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The Justice Department charged at least 50 people on Tuesday in a college entrance scheme that involved crimes dating back to 2011.

The big picture: In what U.S. Attorney Andrew Lelling called the "largest college admittance scam ever charged by the Department of Justice," some defendants allegedly bribed athletic coaches and administrators to falsely portray their children as athletic recruits, while others bribed administrators to allow cheating on college-entrance exams.

  • Two actresses — Felicity Huffman of "Desperate Housewives" and Lori Loughlin of "Full House"— were charged alongside dozens of others.
  • An FBI official said during a press conference that approximately 300 special agents from the FBI and IRS set out to arrest 46 individuals this morning. At least 38 have been safely taken into custody, 7 are working toward surrender and 1 is being actively pursued. Among the people charged are 33 parents who paid "enormous sums" to ensure their children's' entrance and 9 coaches. Other parents are believed to have been involved.
  • Officials say parents spent between $200,000 to $6.5 million.
  • Lelling said that the colleges are not of interest in the ongoing investigation.

Go deeper

Dion Rabouin, author of Markets
39 mins ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Caitlin Owens, author of Vitals
1 hour ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.

2 hours ago - Technology

Big Tech bolts politics

Illustration: Eniola Odetunde/Axios

Big Tech fed politics. Then it bled politics. Now it wants to be dead to politics. 

Why it matters: The social platforms that profited massively on politics and free speech suddenly want a way out — or at least a way to hide until the heat cools.