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Morrie Tobin is the tipster who led the FBI to the college admissions scandal which has rocked the academic world for the past few days, according to a report by The Wall Street Journal.
Per the publication, Tobin was being investigated in a securities fraud case, and offered a tip about a bribe with a Yale coach in an effort to gain leniency in his own case.
Here’s what you need to know:
1. Tobin Told Authorities the Yale Coach Had Asked for a Bribe in Return for Admitting Tobin’s Daughter
This is the original pump & dump scheme that got Morrie Tobin nabbed, after which he revealed the college bribery scheme.
Per The Wall Street Journal, Tobin, a Yale alum, told authorities that he had been offered to pay the Yale soccer coach in exchange for getting his daughter into college. The publication confirms that Tobin has not been charged in relation to the scheme, and that his sentencing for the security fraud case will take place in November, 2019.
The publication reports that Tobin agreed to wear a wire to a meeting with Rudy Meredith, former Yale soccer coach, where Meredith reportedly offered to get Tobin’s daughter into college by saying she was a recruit, in exchange for $450,000.
2. Tobin’s Most Recent Job Was Executive Vice President at Segami Images, Inc; He Attended Yale in 1984
The original tipster who led authorities to the biggest college-admissions scam they’ve ever prosecuted was a Los Angeles resident named Morrie Tobin
Tobin most recently worked as the Executive Vice President at a company called Segami Images, Inc., according to Bloomberg. Via the financial site, his full bio reads,
Mr. Morrie Tobin has been Executive Vice-President of Corporate Development at Segami Images, Inc. since October 1999. Mr. Tobin is responsible for corporate development activities at Global and is employed by Global on a full time basis. He was employed by First Marathon Securities as an institutional equity salesperson in Toronto from February 1999 to October 1999. Mr. Tobin spent two-and-a-half years, from June 1996 to December 1998, at Deacon Capital in Toronto also
3. Tobin Has One Daughter Who Went to Yale & Graduated in 2015
Per The Wall Street Journal, Tobin has a daughter named Rachel who graduated from Yale in 2015, though it’s unclear if his other daughter, the one he allegedly met with Meredith to get into Yale in April 2018, attended the school as well.
4. Tobin Was Not Charged in the College Admissions Scandal, Though He Has Been Charged in the Security Fraud Case
So Operation Varsity Blues came about because a 55-year-old Yalie named Morrie Tobin got nabbed for a $3.6 million pump-and-dump stock scheme. Seems he blurted out “I bribed Yale to get my daughter admitted!” to lighten his sentence.
Tobin has not been formally charged in any capacity in relation to the college admissions scandal. However, he was charged in the security fraud case in November, per The Wall Street Journal:
In the securities fraud case, Mr. Tobin and three others were charged in November, according to a complaint filed by the Securities and Exchange Commission. The SEC says they concealed from investors beginning in 2013 Mr. Tobin’s control of two public companies, Environmental Packaging Technologies Holdings Inc. and CURE Pharmaceutical Holding Corp.
Mr. Tobin then sold his shares without registering the sales with the SEC, without disclosing his stakes in the companies and without complying with SEC limitations on stock sales by company insiders, the complaint says.
The publication reports that Tobin has since pleaded guilty to one count of conspiracy to commit securities fraud and one count of securities fraud, and will be sentenced in June.
5. Rudy Meredith Has Pleaded Guilty to Two Counts of Wire Fraud
Yale Bulldogs/Steve MuscoRudy Meredith.
Rudy Meredith, the former Yale soccer coach and the “winningest coach in Yale history,” per his Yale bio, has since pleaded guilty to two counts of wire fraud.
According to the federal court documents, one parent paid William Singer approximately $1.2 million, and Meredith received $400,000 of that payment, without disclosing the payment to the university.