S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Accountant avoids prison time in college admissions scandal

Friday, May 13, 2022 | The Associated Press

BOSTON (AP) — An accountant who worked for the consultant at the center of the college admissions bribery case has avoided prison for his role in the sweeping scheme.

U.S. District Court Judge Indira Talwani on Friday sentenced Steven Masera, 72, to time already served, ordered him to pay a $20,000 fine and remain on three years' supervised release.

Masera pleaded guilty in 2019 to a charge of racketeering conspiracy in Boston federal court. Masera, of Folsom, California, was an accountant for Rick Singer, the mastermind of the bribery scheme that involved rigged test scores and bogus athletic credentials.

Prosecutors say Masera created fake donation receipt letters and bogus invoices that allowed the wealthy parents who paid bribes to write their payments off as donations or business expenses.

Prosecutors argued that Masera is less culpable than the parents and coaches involved in the scheme, noting that he was working at Singer's direction and “stood to gain nothing beyond his hourly compensation.”

An email seeking comment was sent Friday to lawyers for Masera. His attorneys wrote in court documents that he is “ashamed that he would agree to be involved in such conduct, but is nevertheless handling the situation with grace.”

Singer pleaded guilty to a slew of charges and has yet to be sentenced. Others convicted in the case have received sentences ranging from probation to 15 months behind bars.


7 Stocks That are Ready For a Santa Claus Rally

With the end of the year approaching, many investors are looking to rebalance their portfolios. That typically means casting a critical eye at some of your strong performers and making a decision on whether they will move higher. And one thing that can dip the balance in favor of retaining a stock is the likelihood of a Santa Claus rally.

The technical definition of a Santa Claus rally is a rally that starts in the last few trading days of the year after the Christmas holiday. In recent years, however, that definition has been expanded to take into account a December rally. And with Black Friday beginning earlier and earlier and really not ending until after the holiday's end, this makes some sense.

So will there be a rally in 2021? I wouldn’t bet against it. The market continues to want to move higher and January is historically a strong month for stocks. With that said, we believe quality should still matter. Here are seven stocks that stand to benefit with or without a Santa Claus rally.

View the "7 Stocks That are Ready For a Santa Claus Rally".


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