More on the College Admissions Scandal

By Sam Brunson On Wednesday, I posted about how tax law played a central role in the college admissions scandal. As I’ve read through a little more of the affidavit, I decided to highlight two additional detail in this whole scandal, details that suggest that, for at least some of the participants, the tax consequences were very important. Bruce Isackson and Facebook Stock Bruce Isackson is the president of WP Investments, a real estate investment and development fund.[fn1] According to the affidavit, he used the fake athlete thing (soccer for the older daughter, rowing for the younger) to get two daughters into USC. He seems to have also paid for his younger daughter to get a better ACT score. What’s interesting for purposes of this post is how he paid. For both daughters, he made a significant portion of his payment with Facebook stock: Why pay with Facebook stock? Well, it looks like Mr. Isackson was tremendously tax-sensitive. In fact, on one phone call with…

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