Kevin O'Leary on college admissions scandal: 'I'll tell you who you really screwed: Your kid'

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Kevin O'Leary on college admissions scandal: 'I'll tell you who you really screwed: Your kid'
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Kevin O'Leary on college admissions scandal: 'I'll tell you who you really screwed: Your kid' via CNBCMakeIt

On Monday, actress Felicity Huffman and 13 others agreed to plead guilty to charges stemming from what prosecutors have called the largest college admissions scam in U.S. history, according to CNBC. On Tuesday it was announced that actress Lori Loughlin and others are also facing new charges related to the scam.

In fact, says O'Leary — who famously makes his kids fly coach while he flies first class to teach them they have to make it on their own — it's harmful. The 50 defendants have been accused of wrongdoing ranging from paying bribes reaching into the millions, to helping their children cheat on college entrance exams to faking athletic accolades.

"That's the tragedy of this. We don't know how many hundreds of kids are actually in colleges — or maybe even finished — and they were bought in."O'Leary is known for his down-to-earth approach to parenting, like cutting off his kids financially after college.

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