The exclusive New York City prep school Horace Mann accepted a $1 million pledge from a tech businessman in exchange for giving his children a leg-up in the admissions process, a new lawsuit claims.
The case, filed by a former employee of tech company Lake 5 Media, accuses its owner Qi Tom Chen of cheating on his taxes for years, writing off hundreds of thousands of dollars of personal outlays as business expenses.
It also goes after Horace Mann, which boasts a 10.4% acceptance rate for kindergarteners and places more than half of its graduating seniors at super-selective schools like Harvard, Columbia, and the University of Chicago. The lawsuit claims Chen hired a consultant who brokered a meeting with Horace Mann's head of school where a dodgy deal was struck.
"As a result of that meeting, Mr. Chen made a million dollar pledge to Horace Mann in exchange for preferential admissions treatment for his children," the suit claimed.
The lawsuit was confidentially filed in late 2020 by Daniel Hayward, a former assistant at Lake 5 Media, Chen's media-monitoring technology firm. The case was quietly unsealed in May after the New York Attorney General declined to devote its resources to the case.
Ed Adler, a...
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