Steven Masera, Conspiracy to Commit Racketeering, California 2024

BOSTON – Another player in the sordid college admissions racket is set to face the music. Steven Masera, 69, of Folsom, California, formerly an accountant and financial officer for the Edge College & Career Network and the Key Worldwide Foundation, will plead guilty to conspiracy to commit racketeering, the Department of Justice announced today. This is just the latest domino to fall in a case that exposed the lengths to which wealthy parents will go to secure their children’s futures – and the willingness of others to facilitate that corruption.

Masera’s decision to plead guilty isn’t a sudden change of heart. He’s been cooperating with the government’s ongoing investigation, likely trading information for a lighter sentence. The terms of the plea agreement indicate the government will recommend a sentence at the low end of the U.S. Sentencing Guidelines, along with one year of supervised release, a fine, restitution to victims, and forfeiture of ill-gotten gains. While a specific court date hasn’t been set, the wheels of justice are turning.

The charge of racketeering conspiracy carries a hefty potential penalty: up to 20 years in federal prison, three years of supervised release, a fine of $250,000 (or twice the gross gain or loss resulting from the scheme – whichever is greater), and a requirement to make full restitution. However, the final sentence will be determined by a federal district court judge, taking into account the U.S. Sentencing Guidelines and other relevant factors. Don’t expect Masera to see the maximum; his cooperation is a significant mitigating factor.

This investigation, led by United States Attorney Andrew E. Lelling, along with Joseph R. Bonavolonta of the FBI’s Boston Field Division and Kristina O’Connell of the IRS’s Criminal Investigations in Boston, has already ensnared dozens of individuals. Assistant U.S. Attorneys Eric S. Rosen, Justin D. O’Connell, Leslie A. Wright, and Kristen A. Kearney of Lelling’s Securities and Financial Fraud Unit are relentlessly pursuing the remaining defendants. The scope of the fraud is staggering, revealing a systemic corruption within the elite college admissions process.

The Key Worldwide Foundation, ostensibly a charitable organization, served as a conduit for bribes paid to coaches and administrators at prestigious universities. Masera’s role was to manage the financial transactions, shielding the wealthy parents from direct involvement. While he’s taking responsibility for his actions, the masterminds behind the scheme – the parents desperate to buy their children’s way into elite schools – remain targets of the investigation. This plea is a step forward, but far from the final chapter.

For those seeking more detailed information about the case, including charging documents and the status of other defendants, visit https://www.justice.gov/usao-ma/investigations-college-admissions-and-testing-bribery-scheme. It’s crucial to remember that the details presented in court documents are allegations, and all remaining defendants are presumed innocent until proven guilty beyond a reasonable doubt. Grimy Times will continue to follow this case and expose the rot at the heart of the American dream.

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