BOSTON - A Los Angeles man was charged today in federal court with defrauding clients of his educational consulting firm.
Mark J. Zimny, formerly of Cambridge, was indicted on multiple counts of wire fraud and money laundering.
The Indictment alleges that Zimny operated IvyAdmit Consulting Associates, an educational consulting firm in the business of helping international applicants apply to “top” American universities and boarding schools. Zimny, who falsely claimed to be an Assistant Professor at Harvard University, told his clients that their children would improve their prospect of admission to certain schools if the clients made sizeable gifts of development contributions to the schools, through Zimny, during the application process. Zimny did not forward any of the funds collected to the schools and instead converted the funds, totaling over $600,000, for his own purposes.
The maximum penalty under the statute is up to 20 years in prison, followed by three years of supervised release and a $250,000 fine.
United States Attorney Carmen M. Ortiz and Kevin Niland, Inspector in Charge of the United States Postal Inspection Service, made the announcement today. The case is being prosecuted by Assistant U.S. Attorney Lori Holik of Ortiz’s Economic Crimes Unit.
The details contained in the Indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.