KWF filed its forms 990 with the IRS, as a proper 501 is expected to do According to the form 990, the organization received nearly $2 million in contributions and grants in 2015, and double that amount in 2016. Singer, who signed the form as President, represented that he received no salary for his role.
According to court documents, receipts to the KWF were not charitable, but were instead payment for services to guarantee college placement. And those grants to schools and other charitable organizations? Disguised bribes. In addition to generating and supporting false charitable donations, by incorporating KWF as a fake tax-exempt organization, Singer created the perfect cover. And those parents who took advantage of the chance to get their children into an elite school by making a “donation” to KWF? They may now be on the hook for tax fraud.
Those who accommadated this fraudulent behaviour,lack character ,certainly not honourable.
Rich people commit tax fraud?!
This would have made a wonderful plot-line in 'Desperate Housewives'; Harvey Weinstein could have accomplished this for the actresses w/o the criminal charges.. - Tax Fraud A Key Role In Major College Admissions Scandal viz. Hollywood Actors, CEOs & More
I can hear it now....”but for this isolated event (insert wealthy parent name) has lead an otherwise blameless life”
Speaking of fraud, how much do corrupt banks pay to get on your Forbes Top Bank List? Do a Facebook search on “USAA Scams”. In Jan 19, the CFPB fined USAA $15.5 million. In Feb 19, the OCC issued USAA a cease-and-desist order for “engaging in unsafe or unsound banking practices”