Who Is Morrie Tobin? New Details About The Yale Dad Who Tipped Off The FBI About The College Cheating Scam Ring
He set the ball rolling to save himself.
With the massive (and recent) college admissions bribery scandal coming to light, people everywhere are outraged at how such a scheme could occur. But this bust by the FBI is just the tip of the iceberg of practices that have been going on for a long time: cheating to get into school, whether it’s by altering test grades, paying off faculty, and even faking disabilities. No, it’s not enough to be accepted into college based on merit and intelligence alone.
Fifty people have been charged so far, including actresses Felicity Huffman and Lori Loughlin, though no students are being blamed, as many of them had no idea what their parents were up to. And though the mastermind was discovered to be William Rick Singer, there’s another person finding himself in the spotlight.
Just who is Morrie Tobin? He’s a Los Angeles resident and financial executive, but his role in the scheme goes much deeper.
1. He was the initial tipster.
According to the Wall Street Journal:
“The tipster who led federal authorities to the biggest college-admissions scam they have ever prosecuted was Morrie Tobin, a Los Angeles financial executive who was being investigated in a securities fraud case, according to a person familiar with the investigation. Mr. Tobin was being questioned in an alleged pump-and-dump investment scheme — in which people conspire to inflate the price of a stock so they can sell it at a profit — when he offered a tip to federal authorities in an effort to obtain leniency, according to people familiar with the matter.”
Tobin had close ties with Yale University and was one of the catalysts who set off the scandal, acting as a tipster to authorities. He was being investigated by a securities-fraud case when he revealed that the head women’s soccer coach at Yale accepted a bribe in return for getting his daughter into the elite college. He did so in an “effort to obtain leniency in his own case.”
Once he revealed the tip, investigators then discovered how complex and huge the scheme was, discovering that wealthy parents were using bribery to get their children accepted.
2. He set up the soccer coach.
The Wall Street Journal article also revealed that he assisted authorities in catching the Yale soccer coach.
In April 2018, Tobin wore a wire during a meeting in a Boston hotel room with Rudy Meredith. According to reports, Meredith said he would accept a payment of $450,000 in exchange for getting Tobin’s daughter as a recruit on the soccer team. Meredith later agreed to cooperate with investigators.
3. His tips led to the arrest of Rick Singer.
The investigation, called Operation Varsity Blues, found that Rick Singer was at the center of these bribes. Singer received more than $25 million from the parents, with the schemes dating back to 2011.
4. Tobin is facing his own charges.
Though he is not charged in Operation Varsity Blues, he plead guilty to one count of conspiracy to commit securities fraud, and one count of securities fraud. He and three others were charged back in November, according to a complaint filed by the Securities and Exchange Commission.
The SEC indicated that Robin concealed from investors starting in 2013, in which two companies were in his control. He sold his shares without registering the sales, disclosing stakes, and didn’t comply with SEC limitations on stock sales.
He’s currently awaiting sentencing, set to occur in June. Prosecutors have recommended Tobin be charged with 36 months of supervised release, and the forfeiture of $4 million.
5. He’s been involved in finances for his entire career.
Tobin is the Executive Vice President at Segami Images, Inc., a position he’s held since 1999. He also was in charge of corporate development activities at Global, was an institutional equity salesperson at First Marathon Securities as well as Deacon Capital, and worked for Freedom International of Toronto, Ontario.
He has a degree in economics and political science from Yale, as well as a Bachelor of Arts from the University of Vermont.
6. Lori Laughlin blames him.
According to reports, Loughlin is extremely upset that Tobin blew the lid on the scheme.
One source said, “Lori Loughlin is very upset and up in arms over what Morrie did. She is placing a lot of this blame on him. She, along with several other parents, cannot believe he would do this. They’re livid. A lot of parents who feel just as stunned are rallying around her.”
Samantha Maffucci is an editor for YourTango who focuses on writing trending news and entertainment pieces. In her free time, you can find her obsessing about cats, wine, and all things Vanderpump Rules.