Wealthy parents ensnared in a massive college admissions scheme may have another worry on the horizon: the IRS.
Two famous actresses and a group of executives are among the 50 people facing charges in a massive cheating conspiracy to help their children get into elite colleges, according to law enforcement officials.
The scheme allegedly involved parents paying William "Rick" Singer of Newport Beach, California, so that he could facilitate cheating on the SAT and ACT entrance exams, according to the 204-page affidavit.
These payments, which ran from $15,000 to $75,000 per test, were allegedly structured as donations to the Key Worldwide Foundation, a non-profit that Singer established as a charity, according to law enforcement officials.
Parents also allegedly paid Singer a purported $25 million to bribe coaches and college administrators to designate the children as athletic recruits, according to the complaint.