A Bay Area real estate developer and his wife will cooperate with an investigation into a wide-ranging college admissions bribery scandal.
Authorities said Monday that Bruce and Davina Isackson, of Hillsborough, have agreed to plead guilty to participating in the scam and are cooperating with the investigation for the chance at a lighter sentence.
Federal prosecutors allege the California couple spent some $600,000 to get their daughters into UCLA and USC.
They are accused of transferring more than 2,000 shares of Facebook stock to help get their children into the two California colleges.
The couple was accused of paying an admissions consultant to get their two daughters into two California schools for sports they didn't play. Authorities said they also paid to boost one of the girl's entrance exam scores.
The Isacksons said in an emailed statement that they are "profoundly sorry'' and take full responsibility for their "bad judgment." They say they have worked with investigators and will continue to do so.
Their full statement read: "No words can express how profoundly sorry we are for what we have done. Our duty as parents was to set a good example for our children and instead we have harmed and embarrassed them by our misguided decisions. We have also let down our family, friends, colleagues and our entire community. We have worked cooperatively with the prosecutors and will continue to do so as we take full responsibility for our bad judgment."
Actress Felicity Huffman is among the 14 parents who have agreed to plead guilty in the sweeping college admissions cheating scam that has ensnared wealthy parents and athletic coaches at some of the nation's most selective universities, federal authorities said Monday.
According to the Justice Department, the Isacksons “have both agreed to plead guilty to one count of conspiracy to commit mail fraud and honest services mail fraud.”
Bruce Isackson will also plead guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the IRS, according to federal officials.
Officials said that the Isacksons agreed to pay Rick Singer, the consultant at the center of this scandal, $600,000 to take part in the college entrance exam cheating scheme for their younger daughter and the college recruitment scheme for both their daughters. Officials also charged the Isacksons for underpaying their federal income taxes by writing off the bribe payments as purported charitable contributions.
Other Bay Area parents who are expected to plead guilty are:
1. Agustin Huneeus Jr., 53, of San Francisco, Calif., agreed to pay Singer $300,000 to participate in both the college entrance exam cheating scheme and the college recruitment scheme for his daughter
2. Marjorie Klapper, 50, of Menlo Park, Calif., agreed to pay Singer $15,000 to participate in the college entrance exam cheating scheme for her son;
3. Peter Jan Sartorio, 53, of Menlo Park, Calif., agreed to pay Singer $15,000 to participate in the college entrance exam cheating scheme for his daughter
Actress Felicity Huffman is apologizing for taking part in the college admissions bribery scheme.
The Desperate Housewives'' star said in a prepared statement Monday she accepts full responsibility for her actions and "will accept the consequences that stem from those actions.'' It was her first public comments since her arrest last month.
Huffman was accused of paying $15,000 to rig her daughter's entrance exam score. Authorities say she has agreed to plead guilty to a charge of conspiracy to commit mail fraud and honest services mail fraud.
Huffman says her daughter didn't know about her actions. She says her desire to help her daughter "is no excuse to break the law or engage in honesty."