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Reuters
BOSTON/LOS ANGELES
“Full House” actor Lori Loughlin and the former head of financial firm Pimco are due to face criminal charges on Wednesday related to a $25 million scheme to help wealthy Americans secure places for their children in top US colleges.
The two are among 50 people charged for taking part in the largest such scam in US history, which the scheme’s mastermind told a court steered some 800 students into elite universities including Yale, Georgetown and Stanford by cheating the admissions process.
Loughlin was taken into custody by FBI agents in Los Angeles on Wednesday morning, Laura Eimiller, a spokeswoman for the Federal Bureau of Investigation, said. Former Pimco Chief Executive Douglas Hodge is due to be arraigned in federal court in Boston, officials said.
Another parent charged in the scheme, Manuel Henriquez, resigned as chief executive officer of the finance company Hercules Capital, the company said early on Wednesday.
The mastermind of the scheme, William “Rick” Singer, on Tuesday pleaded guilty to racketeering charges. Prosecutors in the US attorney’s office in Boston say his company, Edge College & Career Network, amassed $25 million through the fraud.
Singer ended up cooperating with investigators last year, helping them record incriminating conversations he had with Loughlin, Henriquez and other parents.
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14/03/2019
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