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College bribery scandal tip stemmed from pharma pump-and-dump investigation

The Wall Street Journal reported that Morrie Tobin tipped off investigators about the college bribery scheme, which ensnared a biotech investor earlier this week.

The nationwide college admissions scandal that earlier this week swept up a prominent biotech venture capital investor started with another investor who was under investigation for securities fraud involving a drug company, according to a news report.

Citing a person familiar with the investigation, The Wall Street Journal reported Thursday that the scandal began with a tip from Morrie Tobin, a Los Angeles resident who was under investigation by the Securities and Exchange Commission for a pump-and-dump investment scheme. The alleged scheme involved two companies that Tobin secretly controlled, one of which was CURE Pharmaceutical Holding Corp., according to an SEC complaint. The SEC said that Tobin conspired with three others to sell his shares at a profit by not registering the sales with the SEC, disclosing his ownership or complying with limitations on stock sales. As such, they allegedly disguised a dump of shares as ordinary trading by unaffiliated investors. The other company the commission alleges Tobin controlled was Environmental Packaging Technologies Holdings.

According to the Journal, Tobin – a Yale University alumnus – told investigators the head of the Yale women’s soccer team had sought a bribe to get his daughter into the university, which led them to the larger scheme. According to the Department of Justice, at least 50 wealthy individuals in eight states allegedly bribed athletic and admissions officials at elite universities to enable cheating on entrance exams and false athletic recruitment in order to get their children into the schools. Universities involved included Yale, Stanford, the University of Southern California, Wake Forest and Georgetown.

One of the individuals arrested was Manuel Henriquez, founder and CEO of Hercules Capital, a hedge fund and venture capital firm based in Palo Alto, California, that has a significant presence in life sciences investment. Henriquez and his wife, Elizabeth, turned themselves in to authorities in New York and were released on $500,000 bond after an appearance in federal court. They are expected to appear in a federal court in Boston on March 29, according to federal prosecutors. Actresses Felicity Huffman and Lori Loughlin were also arrested in connection with the scheme.

Source: medcitynews.com

No, private schools aren’t better at educating kids than public schools. Why this new study matters.

Despite evidence showing otherwise, it remains conventional wisdom in many parts of the education world that private schools do a better job of educating students, with superior standardized test scores and outcomes. It is one of the claims that some supporters of school choice make in arguing that the public should pay for private school education.

The only problem? It isn’t true, a new study confirms.

University of Virginia researchers who looked at data from more than 1,000 students found that all of the advantages supposedly conferred by private education evaporate when socio-demographic characteristics are factored in. There was also no evidence found to suggest that low-income children or children enrolled in urban schools benefit more from private school enrollment.

The results confirm what earlier research found but are especially important amid a movement to privatize public education — encouraged by Education Secretary Betsy DeVos — based in part on the faulty assumption that public schools are inferior to private ones.

DeVos has called traditional public schools a “dead end” and long supported the expansion of voucher and similar programs that use public money for private and religious school education. According to the National Conference of State Legislatures, 27 states and the District of Columbia have policies allowing public money to be used for private education through school vouchers, scholarship tax credits and education savings grants.

The new study was conducted by Robert C. Pianta, dean of U-Va.’s Curry School of Education and a professor of education and psychology, and Arya Ansari, a postdoctoral research associate at U-Va.’s Center for Advanced Study for Teaching and Learning.

“You only need to control for family income and there’s no advantage,” Pianta said in an interview. “So when you first look, without controlling for anything, the kids who go to private schools are far and away outperforming the public school kids. And as soon as you control for family income and parents’ education level, that difference is eliminated completely.”

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LA-bound LeBron opens school in Akron as part of legacy

AKRON, Ohio (AP) — LeBron James is leaving home again and leaving behind something he says is more meaningful than any of his NBA championships.

James, who this month ended his second stay with the Cleveland Cavaliers by signing with the Los Angeles Lakers, has opened a public school for challenged children in his hometown.

The NBA great admitted to having “jitters” before the opening, an event he said is “going to be one of the greatest moments — if not the greatest — of my life.”

The I Promise School initially will house 240 third- and fourth-graders. The Akron school will expand each year, adding second and fifth grades next year and will have students from grades 1-8 by 2022.

James was to be at the school Monday to welcome students and make his first public comments since deciding to join the Lakers.

James spent 11 seasons with the Cavs, winning a title in 2016 to end Cleveland’s 52-year drought without a pro sports championship. His departure ended a four-year run with the Cavs after he returned in 2014 following four seasons with the Miami Heat.

Following his eighth straight appearance in the NBA Finals, James said he was still in “championship mode” as he headed into free agency. But he’s going to a Lakers team that missed the playoffs again last season and seems years away from competing for a title in the rugged Western Conference.

James was also drawn to Los Angeles by the appeal of playing for one of the league’s most storied programs and the chance to work with Hall of Famer Magic Johnson, the Lakers’ president and a player James idolized since he was a kid.

James also chose Los Angeles in part because it represents the next chapter in his life. He already owns homes there and he has a film production company in the city.

 

Boy, 11, graduates from college and still plans to continue education

ST. PETERSBURG, Fla. – An 11-year-old boy graduated from college Saturday – and he’s not done with his education.

William Maillis walked across the stage at St. Petersburg College in St. Petersburg, Florida, where he earned his associate’s degree, according to Bay News 9. He plans to transfer to the University of South Florida for his bachelor’s degree.

Ohio State psychologist Joanne Ruthsatz declared William a genius at 5. He graduated from high school in Pittsburgh at 9.

After William receives his bachelor’s degree, he said he’ll go to somewhere like the University of Florida to get a master’s and doctorate degrees in astrophysics.

An 11-year-old from Florida earned his associate’s degree and plans to attend the University of South Florida for his bachelor’s degree. USA TODAY

“I want to be an astrophysicist to prove God is real using science,” said William.

2016: 9-year-old genius already conquering college

William has been amazing people for years.

• He learned addition and subtraction at 1½.

• He knew the alphabet in three languages at 3.

• He learned algebra by 4.

• William started elementary school at 4.

William said going to college with people that were mostly twice his age was different, but he got used to it.

“Just being around them, and having them treat you like an actual friend,” William said.

“I am totally fascinated by William and the work that he has done,” Tonjua Williams, president of St. Petersburg College, told Bay News 9. “He’s extremely brilliant, very open and collaborative.”

As inspiring as he is, William has some words of inspiration for others.

“Everybody has their own genius,” he said. “Mine is in astrophysics, but everyone has their own genius.”

Follow WTSP-TV on Twitter: @10NewsWTSP

SOURCE : https://www.usatoday.com/story/news/nation-now/2018/07/23/11-year-old-graduates-college/818815002/