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$600,000 Scam: Former Ed Consultant Swindled Clients
A Los Angeles man was charged with defrauding clients of his educational consulting firm, IvyAdmit Consulting Associates, in federal court. Mark J. Zimny, formerly of Cambridge, was indicted on multiple counts of wire fraud and money laundering.
Zimny, who falsely claimed to be an Assistant Professor at Harvard University, told his clients that their children would improve their prospects of admission to certain schools if the clients made sizeable gifts of development contributions to the schools through him during the application process. He did not forward any of the funds collected to the schools and instead converted the funds, totaling over $600,000, for his own purposes.
The maximum penalty under the statute is up to 20 years in prison, followed by three years of supervised release and a $250,000 fine.
United States Attorney Carmen M. Ortiz and Kevin Niland, Inspector in Charge of the United States Postal Inspection Service, made the announcement. The case is being prosecuted by Assistant U.S. Attorney Lori Holik of Ortiz’s Economic Crimes Unit.
The details contained in the Indictment are allegations, and the defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
According to the indictment, Zimny operated IvyAdmit Consulting Associates, an educational consulting firm that helped international applicants apply to ‘top’ American universities and boarding schools. The firm’s clients were told that making sizeable gifts to the schools would improve their children’s chances of admission.
Zimny, who was based in Massachusetts, is now facing serious charges of wire fraud and money laundering, with a potential sentence of up to 20 years in prison and a fine of $250,000.
Key Facts
- State: Massachusetts
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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