The Globe reports that Zimny promised to donate some of the money to elite schools. As for the rest of it, the brilliant plan — in this economy — was to invest the rest of the money and use the returns to pay Zimny’s fees.
Zimny has been unable to explain exactly where the money went, but documents show that he attempted to invest the money in real estate, the Globe reports.
Whatever happened to their money, the Chows demand a refund.
Documents submitted in the lawsuit show Zimny did indeed receive $2.2 million, and that IvyAdmit employees tutored the Chows’ two sons. Those employees even went so far as to do their homework and write papers for them.
According to one of the Chows’ attorneys, the lawsuit is likely to pick up speed this fall and winter.
Regardless of the outcome, the Chow boys reportedly did end up at elite colleges (not Harvard, though).
Zimny’s company, IvyAdmit Consulting Associates, is a Connecticut limited liability company, reports The Globe. The firm has an office in Cambridge, Mass.
According to The Harvard Crimson, the Independent Educational Consultants Association, the governing body that vets private college counselors, has no record of accreditation for Zimny. Accreditation requirements include having an advanced degree, completing certain training, and visiting a number of secondary school and college campuses.
The IvyAdmit website is still online. “We are a dedicated, experienced, highly professional group of current and former professors and students at Ivy League universities and other top American schools,” it boasts.
The website claims that faculty members from various Ivy League schools and distinguished American business schools comprise the IvyAdmit team.
IvyAdmit also boasts a strong record of assisting applicants from several Asian countries gain admission to elite schools, at an overall clip of “almost 90%.”
“Applying to an MBA or other university program is one of the most demanding and important steps in your career,” the website proclaims. “Why should you trust your future to anyone less?”