more names are slowly coming out....
Chris Schaepe, co-founder of Lightspeed Venture Partners, was given the boot on Wednesday after he admitted to paying over $600,000 in cash and stock donations for Singer’s services.
Schaepe initially told his partners that he was dealing with a “personal matter” that could possibly “interfere with firm operations,” the website reports. After learning of his involvement with Singer, the firm “determined to separate from Chris to ensure this matter does not interfere with firm operations.” “The matter does not involve the firm, its personnel or its portfolio companies,” a spokesperson said.
Schaepe has not been charged in the federal case against Singer and his celebrity cohorts, but sources say he is one of the unnamed individuals mentioned in the complaint.
The documents refer to a father from Los Altos Hills, Calif., who hired Singer in 2014 to try and get his son into UT at Austin.
Even though he wasn’t charged, Schaepe reportedly hired a lawyer after learning about Singer’s arrest earlier this month.
A source said that the venture capitalist claims to have been duped into believing Singer was legitimate. They said Schaepe and his wife hired Singer in 2014 while their son was still in high school serving as the manager for the basketball and football teams.
Singer not only helped Schaepe’s son get into UT, but the hoops program as well.
“Hey Rick, I wanted to thank you personally for all your help getting me into the University of Texas in Austin, and for helping me secure a managers position with the UT basketball team,” the young man wrote in a note to Singer.
Lightspeed co-founder Chris Schaepe is out over college admissions scandal; a sports blogger exposed his son’s involvement
https://nypost.com/2019/03/28/silic...-ousted-over-ties-to-college-admissions-scam/