Hercules Capital, a Palo Alto, California, venture capital firm, announced Wednesday it was replacing its leader, Manuel Henriquez, who has been arrested in New York City and released on $500,000 bail. Telephone messages seeking comment have been left with Caplan, who is accused of paying $75,000 to get a test supervisor to correct the answers on his daughter's ACT exam after she took it. Caplan "will have no further firm management responsibilities," the firm said in a statement Wednesday. 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.Īmong the other parents charged was Gordon Caplan, of Greenwich, Connecticut, co-chairman of the law firm Willkie Farr & Gallagher, based in New York.
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Loughlin's lawyer Perry Viscounty declined comment outside the courtroom, where a day earlier her husband, fashion designer Mossimo Giannulli, was freed on similar terms.
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Magistrate Judge Steven Kim said Loughlin must surrender her passport in December, inform the court of her travel plans and provide evidence of where she's been if asked. "The department is looking closely at this issue and working to determine if any of our regulations have been violated."Īt a brief court appearance Wednesday, a judge allowed Loughlin to be released on $1 million bond and travel to the area around Vancouver, Canada, to work but otherwise imposed strict travel restrictions. Education Secretary Betsy DeVos said in a statement Wednesday. "Every student deserves to be considered on their individual merits when applying to college, and it's disgraceful to see anyone breaking the law to give their children an advantage over others," U.S.
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Some parents spent hundreds of thousands of dollars, as much as $6.5 million, to guarantee their children's admission, officials said. At least nine athletic coaches and 33 parents were among those charged.