Shandong pharmacy mogul tainted by US college admissions scandal
Print Edition
THE head of a Shandong-based pharmaceutical company reportedly paid US$6.5 million to help his daughter gain admission to the prestigious Stanford University in the United States.
Zhao Tao, co-founder and chairman of the multi-billion-dollar Shanghai-listed firm Buchang Pharma, gave Newport Beach college consultant William Singer the seven-figure sum, US media has reported.
His daughter Zhao Yusi, also known as Molly, was admitted to Stanford in 2017. It is reported that her family met Singer through a Morgan Stanley money manager. Singer presented her to the university as a sailing recruit to help guarantee her admission.
A sweeping US college admissions scam was exposed in March.
The pharmaceutical company said yesterday that it has been “studying on the case.”
Pu Xiaoping, vice chairman and secretary of the board with Buchang Pharma, said “the company is operating normally, while the major stock holder has weak relevance to the company.”
Pu said the company had not received any request from the Shanghai Stock Exchange, and the official reply will be made through the company.
Buchang Pharma specializes in the R&D, production and sale of traditional Chinese patent medicines. The company has set up production bases across China.
Zhao Tao, 53, ranked 82nd among the richest people in China in 2018 with total assets of 32 billion yuan (US$4.8 billion).
To ensure Molly Zhao was admitted to Stanford, Singer targeted the school’s sailing program, putting her forward as a competitive sailor despite there being no indication she competed in the sport, sources familiar with the case told the Los Angeles Times.
Former Stanford sailing coach, John Vandemoer, has pleaded guilty to conspiracy to commit racketeering.
Stanford expelled Molly Zhao in late March for falsifying her sailing experience.
Singer has pleaded guilty to orchestrating a cheating scheme in which he rigged students’ entrance exams and bribed coaches to secure enrollment.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
