Reply to The college admissions scandal bell tolls for thee, Harvard

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I doubt the DOJ will ignore the apparent money laundering aspect and defer to the NCAA, but maybe with the help of Mr. Zhao's legal team?  [/quote]

Can someone explain how this is money laundering? [/quote]

Disguised bribery as a sale for value, at an inflated valuation. Classic trade-based money laundering. It had all the elements too: placement, layering, and integration.[/quote]

So in this case, who’s laundering the money?  Does the term “laundering” mean that you are taking money earned illegally and converting it to untraceable clean money or is that just the movie description?  Because it doesn’t sound like the guy who bought the house did so with illegally earned money. [/quote]

No, read the section at the end of the article.  The dad donated $1 million to a fencing foundation.  That foundation in turn donated $100K to a charity newly created by the Harvard fencing coach.  The dad's older son was subsequently admitted to Harvard.  The Harvard fencing coach's charity only lasted a couple of years after the donation, which could suggest that it was set up for the sole purpose of laundering money.[/quote]

That’s money laundering?  Isn’t that how foundations work?[/quote]

It actually puts the first charity in the position of simply being a pass through, which can be a problem for them[/quote]

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