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Saturday March 23rd, 2019 3:09AM

Correction: College Admissions-Bribery-The Latest story

By The Associated Press

BOSTON (AP) — In a story March 13 about a college admissions bribery scandal, The Associated Press erroneously described a defendant's employer. The company where Manuel Henriquez worked is a venture capital firm, not a hedge fund.

A corrected version of the story is below:

The Latest: USC bars from admission students tied to firm

The University of Southern California says it will bar from admission about half a dozen student applicants connected to a firm indicted in a sweeping college admissions scandal

BOSTON (AP) — The Latest on a college admissions bribery scandal that has led to charges against coaches and celebrities (all times local):

9:50 p.m.

The University of Southern California says it will bar from admission about half a dozen student applicants connected to a firm indicted in a sweeping college admissions scandal.

William "Rick" Singer, who owns an admissions consulting firm, is accused of conspiring with wealthy parents to pay bribes to get their children into prestigious schools. He has pleaded guilty.

USC's interim President Wanda Austin tells the Los Angeles Times that about a half-dozen students affiliated with Singer's firm will be barred. A USC statement says officials will also conduct a case-by-case review of current students and graduates tied to the allegations.

Austin also says the university has identified at least $1.3 million in donations from those involved in the scheme and that money will be redirected to scholarships for underprivileged students.

___

7:20 p.m.

The University of Texas has fired men's tennis coach Michael Center after he was indicted on charges of taking bribes to help students get into top schools.

Center was placed on leave Tuesday when federal officials unveiled indictments of a sweeping college admissions bribery scandal. Center was accused of taking up to nearly $100,000 to get a student into school by listing him as a tennis recruit and offering him a scholarship for books.

Once enrolled, the student never played tennis.

According to his indictment, one payment to Center was $60,000 in cash in an Austin hotel parking lot.

Center's attorney has said the coach is innocent.

Center coached Texas for 18 years.

___

6:15 p.m.

A federal judge says "Full House" actress Lori Loughlin (LAWK'-lin) can be released after posting $1 million bond in a case in which she and her husband are accused of paying bribes to get their daughters into college.

Loughlin stood with her lawyer in the Los Angeles courtroom Wednesday and didn't speak except to answer "yes" to the judge's questions.

Magistrate Judge Steve Kim said Loughlin must limit her travel to the continental U.S. and areas around Vancouver, Canada, for work.

Dozens of defendants in the alleged nationwide scheme, including Loughlin's husband fashion designer Mossimo Giannulli, were arrested Tuesday. Giannulli posted bond and was released Tuesday.

Prosecutors allege the couple paid $500,000 to have their daughters labeled as crew-team recruits at the University of Southern California, even though neither is a rower.

___

5:15 p.m.

A former top investment manager has appeared in court on charges of paying bribes to get three of his children into top universities as part of a widespread admissions bribery scandal.

The Boston Globe reports that former PIMCO chief executive Douglas Hodge was released Wednesday on $500,000 bond after briefly appearing in federal court in Boston.

He's faces charges including conspiracy to commit mail fraud. He didn't enter a plea.

Hodge was granted bail despite a plea from prosecutors, who called him a flight risk with "unlimited resources."

A lawyer for the 61-year-old Laguna Beach, California, man said Hodge isn't a flight risk and he returned to the U.S. when he learned of the charges.

Prosecutors say he got his children into school by faking their athletic achievements.

___

2:50 p.m.

Education Secretary Betsy DeVos says officials are reviewing whether a widespread college bribery scandal violated federal education rules.

A statement issued Wednesday by DeVos calls the scheme "disgraceful" and says her department is "looking closely" at the issue.

Fifty people have been charged in a scheme in which wealthy parents bribed sports coaches and other officials to get their children into elite universities.

The coaches worked at colleges including Yale, Stanford, Georgetown and the University of Southern California.

DeVos said in a Fox News interview that although the Justice Department is leading the case, her department is reviewing whether it should play a role.

Most of the schools are private but accept federal funding and are bound by federal education rules.

Prosecutors have said colleges are not targets of their criminal case.

___

11:45 a.m.

The FBI says actress Lori Loughlin (LAWK'-lin) has been taken into custody in connection with a scheme in which wealthy parents paid bribes to get their children into top colleges.

FBI spokeswoman Laura Eimiller says Loughlin is in custody Wednesday morning in Los Angeles. She is scheduled to appear in court there in the afternoon.

Prosecutors allege Loughlin and her husband, fashion designer Mossimo Giannulli, paid $500,000 to have their two daughters labeled as recruits to the University of Southern California crew team, even though neither is a rower.

They were among 50 people charged in the scheme.

Loughlin became famous as the wholesome Aunt Becky in the 1980s and '90s sitcom "Full House." She has lately become the queen of the Hallmark channel with her holiday movies and the series "When Calls the Heart."

___

11:20 a.m.

Actress Lori Loughlin (LAWK'-lin) is expected to turn herself in to the FBI to face charges as part of a scheme in which wealthy parents paid bribes to get their children into top universities.

FBI spokeswoman Laura Eimiller says Loughlin is expected to surrender Wednesday morning in Los Angeles. She is scheduled to appear in court later in the day.

Court records show a warrant had been issued for Loughlin's arrest. She was among 50 people charged in the scheme.

Prosecutors allege Loughlin and her husband, fashion designer Mossimo Giannulli, paid $500,000 to have their two daughters labeled as recruits to the University of Southern California crew team, even though neither is a rower.

Giannulli was released Tuesday after posting a $1 million bond.

Loughlin gained fame for her role as the wholesome Aunt Becky in the 1990s sitcom "Full House."

___

10:30 a.m.

A Florida prep school administrator has been suspended from his school after he was accused of taking college admissions tests for students as part of a scheme in which wealthy parents bribed coaches and others to get their children into elite universities.

IMG Academy in Bradenton said late Tuesday that 36-year-old Mark Riddell has been suspended indefinitely. He was the school's director of college entrance exam preparation.

Riddell didn't return several phone calls seeking comment.

He was charged Tuesday along with nearly 50 other people and faces conspiracy to commit mail fraud and money laundering counts.

Documents say Riddell took entrance exams for students or replaced their answers with his own.

IMG Academy bills itself as the world's largest sports academy. The school was founded by renowned tennis coach Nick Bollettieri.

___

8:25 a.m.

The head of a Silicon Valley venture capital firm who became ensnared in a massive college bribery scandal is stepping down.

Manuel Henriquez will be replaced as CEO and chairman of Hercules Capital in Palo Alto, California.

Henriquez was arrested in New York City and released on $500,000 bail after a brief appearance in Manhattan federal court Tuesday.

Shares of the company plunged 9 percent on word of Henriquez' arrest Tuesday.

Hercules said Wednesday that Henriquez will still hold a seat on the board and will serve as an adviser.

Fifty people, including Hollywood stars Felicity Huffman and Lori Loughlin, were charged in the scheme in which wealthy parents allegedly bribed college coaches and other insiders to get their children into some of the nation's most selective schools.

Federal authorities called it the biggest college admissions scam ever prosecuted by the U.S. Justice Department, with the parents accused of paying an estimated $25 million in bribes.

___

12:10 a.m.

Authorities who accused dozens of super-wealthy parents of paying bribes to get their kids into elite U.S. colleges say the investigation isn't over.

Big names such as actresses Felicity Huffman and Lori Loughlin headline the list of some 50 people charged in documents released Tuesday that describe a scheme to cheat the admissions process at eight sought-after schools.

"Desperate Housewives" star Huffman posted a $250,000 bond Tuesday after an appearance in federal court in Los Angeles.

It was unclear when the "Full House" star Loughlin would turn herself in. Loughlin's husband, fashion designer Mossimo Giannulli, was released in Los Angeles after posting a $1 million bond.

Huffman and Giannulli are scheduled to reappear in court March 29 in Boston.

  • Associated Categories: Associated Press (AP), AP Entertainment, APOnline Celebrity News, AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Financial Services
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