Miami Investor Among 50 Arrested For College Entry Scam

Actresses Felicity Huffman and Lori Loughlin are among many parents, sports coaches and college prep executives who spent upwards of $200K to millions of dollars to get students into prestigious colleges, according to a federal indictment.

One of suspects arrested in Operation Varsity Blues is Miami investor Robert Zangrillo. The real estate developer involved in the Magic City Innovation District project allegedly paid 50-thousand-dollars to have poor grades wiped from his daughter's transcript sent to the University of Southern California. Zangrillo is charged with conspiracy to commit mail fraud and host services fraud.

More universities have released statements about today's arrests surrounding the cheating scheme including Yale, Stanford, Georgetown and USC.

The Department of Justice says at least 50 people were arrested.

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