Robert Flaxman Net Worth: Robert Flaxman, a real estate developer from in Southern California, was one of three people found guilty in a college admissions scandal that unfolded in 2019 alongside Felicity Huffman and Lori Loughlin.
According to The Wall Street Journal, Flaxman, the CEO of Crown Realty & Development in Costa Mesa, California, served one month in prison in 2019 after pleading guilty to a federal fraud conspiracy charge for cheating to get his daughter into college.
The charge stemmed from Flaxman’s efforts to increase his daughter’s chances of being accepted to a college of her choice. On October 27, 2022, it was revealed that Flaxman had taken his own life and died. The following is the information you need to know about the deceased millionaire.
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Robert Flaxman Net Worth
It was believed that Robert Flaxman net worth at the time of his death was somewhere between $5 million and $17 million. The Real Deal reports that before he was arrested, his real estate development company managed a portfolio worth a total of $600 million before he was taken into custody.
According to The Daily Beast, Flaxman was a flamboyant real estate mogul who enjoyed driving Rolls Royces, dating Playboy models, hosting opulent pool parties in Beverly Hills, and on occasion passing himself off as Robert Emerald. Flaxman was also rumoured to have used the alias, Robert Emerald.
Following his release from prison in 2020, Flaxman reportedly sold two of his residences in the Beverly Hills area for a combined total of $34 million.
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Flaxman Committed Suicide Before His Death
Robert Flaxman, a real estate entrepreneur in Beverly Hills, and William “Rick” Singer, the masterminds of the “Varsity Blues” college admissions scandal, conspired in 2019, and Flaxman pled guilty to that crime in 2019. The week prior, Flaxman passed away by his hand at his house in Malibu.
After Flaxman, 66, admitted to taking part in the admissions fraud by paying Singer $75,000 to rig his daughter’s ACT exam, he was sentenced to one month in jail, a fine of $50,000, and community service in the amount of 250 hours. In addition, he was required to serve one month of home detention.
The Los Angeles County Medical Examiner-Coroner has concluded its investigation into the death of the real estate billionaire, who passed suddenly at his home on October 20. The news of his passing was initially reported by The Real Deal.
Flaxman was one of approximately thirty parents who were accused of collaborating with Singer, a Newport Beach consultant who was the mastermind behind the college admissions fraud that involved falsifying test results and purchasing seats at prestigious universities through athletic coaches.
In addition to actresses Lori Loughlin and Felicity Huffman, Flaxman was one of the parents who was accused of collaborating with Singer. The musician admitted guilt in connection with four separate accusations. The investigation into the conspiracy that the FBI was conducting was known as “Operation Varsity Blues.”
The attorney for Flaxman, William Weinreb, asserted that his client had been driven by a misguided desire to assist his daughter in enrolling in a “lower-tier school” because she had a “checkered disciplinary record and modest grades” as a result of the years of difficulties that she had endured.
Weinreb stated that Singer told him his daughter would not be admitted to the University of San Francisco or any other school if she did not obtain an adequate score on the ACT. According to the allegations, Flaxman attempted to set his daughter’s life on the right path by enrolling her in a four-year university.
Weinreb asserted that Flaxman had consented to Singer’s plan to alter the test in some way. In the year 2020, Mr Flaxman started the process of unloading his Beverly Hills residences and listing them for a total of $34 million in the market. This article was published for the first time in the Los Angeles Times.
Final Terms
Robert Flaxman was a well-known and successful commercial developer and real estate agent in the United States. At the time of his passing, it is estimated that his net worth was somewhere between $5 million and $17 million. His involvement in the 2019 college admissions scandal that originated in Los Angeles has brought him widespread notoriety.