Vancouver businessman David Sidoo has stepped down as president from East West Petroleum in the wake of the U.S. college scandal.
Sidoo was charged this week with conspiracy to commit fraud by hiring people to cheat on college entrance exams in the U.S. He is accused of paying $200,000 to have someone take the SATs for his two sons in 2011 and 2012.
In a statement on its website Thursday, East West Petroleum says Sidoo is no longer president and CEO.
“Mr. Sidoo has been named in legal proceedings from the US government. In light of this legal action Mr. Sidoo has decided it would be in the best interests of the company to take a leave of absence from his executive role in the company.”
The company says the subject matter of the legal proceedings is unrelated to its business and Sidoo remains as a director of the company.
Sidoo, 59, was arrested in San Jose, Calif., on Friday and he appeared in a California court on Monday. He is scheduled to make his first appearance in federal court in Boston on Friday at 11:30 a.m. PT.
He is charged with nearly 50 other people in what is being called the biggest college-admissions scam ever prosecuted by the U.S. Justice Department.
Hollywood actresses Felicity Huffman and Lori Loughlin are among those charged in the investigation.
With files from Scott Brown, Kevin Griffin, and Keith Fraser
MORE FALLOUT FROM THE U.S. COLLEGE SCANDAL:Lori Loughlin dropped from Hallmark, production halted on several Vancouver-filmed projects
Indictment against David Sidoo
CLICK HERE to report a typo.
Is there more to this story? We’d like to hear from you about this or any other stories you think we should know about. Email firstname.lastname@example.org.