Swindled 100. The Side Door (Operation Varsity Blues)
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Aug 31, 2023 A college admissions bribery conspiracy involving Rick Singer is exposed. The podcast discusses the fraudulent activities of Michael T. Gastauer, the deceptive promises of Rick Singer, and wealthy individuals cheating college admissions. It also covers the arrests and aftermath of Operation Varsity Blues, the largest college admissions scam ever prosecuted. Changes implemented by universities to rebuild trust in the admissions system are highlighted.
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Gastauer's Early Scams
- Michael Gastauer's company, GNS, collapsed due to a scam.
- He was convicted of fraud but received a suspended sentence.
WB21's Dubious Success
- Gastauer founded WB21, claiming it was valued at billions.
- Investigations revealed inflated user numbers and fake awards.
WB21's Shady Dealings
- WB21 wasn't a real bank and was linked to the QuadrigaCX scandal.
- Journalists investigating WB21 faced threats and intimidation.