Morrie Tobin, a California financier, provided federal prosecutors with the tip that launched the college admissions scam investigation.
According to a report from the Wall Street Journal, Tobin informed investigators of potential wrongdoing while he was being investigated over his alleged role in financial fraud. Tobin was accused of participating in a “pump-and-dump” scheme, which was illustrated in the popular film Wolf of Wall Street. Tobin is currently awaiting sentencing for financial fraud.
Tobin told investigators that the Yale women’s soccer, Rudy Meredith, offered to help Tobin’s daughter gain admission to the university in exchange for a bribe. That tip launched the wide-ranging investigation into William “Rick” Singer and his network of contacts at prestigious universities around the country. The scam implicated high-profile universities such as Georgetown, the University of Southern California, Yale, and Stanford.
Tobin agreed to wear a wire during a meeting with Meredith. During the meeting, Meredith told Tobin that he could help Tobin’s daughter gain admission in exchange for $450,000.
Breitbart News reported this week that Lori Loughlin’s two daughters may now be facing a criminal investigation. Sources told the Daily Mail that federal prosecutors are investigating how much about the scam Olivia Jade and Isabella Giannulli knew.
The legal complaint against Loughlin and her husband highlights that Jade was included on at least one email conversation between her parents and William “Rick” Singer. “On or about December 12, 2017, Loughlin e-mailed [Singer], copying Giannulli and their younger daughter [Olivia], to request guidance on how to complete the formal USC application, in the wake of her daughter’s provisional acceptance as a recruited athlete,” the complaint reads.
Stay tuned to Breitbart News for more updates on this story.