(AP) — Fallout from a sweeping college admissions scandal swiftly spread Wednesday, with actress Lori Loughlin surrendering ahead of a Los Angeles court hearing and a Silicon Valley hedge fund replacing its leader.
Loughlin and fellow actress Felicity Huffman headline the list of some 50 people charged in documents unveiled in Boston that describe a scheme to cheat the admissions process at eight sought-after schools. The parents bribed college coaches and other insiders to get their children into selective schools, authorities said.
Loughlin turned herself in to the FBI on Wednesday morning and is scheduled for a court appearance in the afternoon, spokeswoman Laura Eimiller said.
Prosecutors allege Loughlin and her husband, fashion designer Mossimo Giannulli, paid $500,000 to have their two daughters labeled as recruits to the University of Southern California crew team, even though neither is a rower. Giannulli was released Tuesday after posting a $1 million bond.
TMZ is reporting that Loughlin’s daughter, Olivia Jade was just dropped by Sephora. TMZ is also reporting that Loughlin will not return for the fifth and final season of Netflix’s Full House revival. “Fuller House is not currently in production. Lori is a guest star and was during the previous seasons and there are currently no plans for her to return to the 5th season,” a production source told TMZ on Thursday.
What’s more is that Loughlin was also fired by the Hallmark Channel. In an announcement from Hallmark’s parent company, Crown Media, the company said it is no longer working with the 54-year-old, who had long been a staple on its networks.
“We are saddened by the recent news surrounding the college admissions allegations. We are no longer working with Lori Loughlin and have stopped development of all productions that air on the Crown Media Family Network channels involving Lori Loughlin including Garage Sale Mysteries, an independent third party production,” Crown Media Family Networks said in a statement Thursday.
The scandal also ensnared movers and shakers in the corporate world. The Palo Alto, California, hedge fund Hercules Capital announced Wednesday it was replacing its leader, Manuel Henriquez, who was arrested in New York City on Tuesday and released on $500,000 bail. Shares of the hedge fund plunged 9 percent.
Henriquez will still hold a seat on the board and serve as an adviser, Hercules said.
Felicity Huffman on Monday, April 8, 2019 announced that she intends to plead guilty to the charge brought forth in a massive nationwide college admissions scandal.
“I am pleading guilty to the charge brought against me by the United States Attorney’s Office,” she said in a statement. “I am in full acceptance of my guilt, and with deep regret and shame over what I have done, I accept full responsibility for my actions and will accept the consequences that stem from those actions.” She continued, “I am ashamed of the pain I have caused my daughter, my family, my friends, my colleagues and the educational community. I want to apologize to them and, especially, I want to apologize to the students who work hard every day to get into college, and to their parents who make tremendous sacrifices to support their children and do so honestly. My daughter knew absolutely nothing about my actions, and in my misguided and profoundly wrong way, I have betrayed her. This transgression toward her and the public I will carry for the rest of my life. My desire to help my daughter is no excuse to break the law or engage in dishonesty.”