Adviser involved in college admissions probe revealed as Oppenheimer rep

A financial adviser working at a unit of Oppenheimer & Co. in Los Angeles has been identified by The Wall Street Journal as having helped facilitate a $1.2 million payment by a Chinese family to a college counselor at the center of the college admissions cheating scandal. The Journal said the adviser, Qui Xue Yang, works at Summa Group, a small unit of Oppenheimer that noted Ms. Yang's work with Chinese clients on its website. Ms. Yang joined the firm in 2015, according to her BrokerCheck record. (More:​ Millionaires flee homelands as tensions rise, taxes bite) According to Federal court filings, a Los Angeles-based adviser whom the newspaper identified as Ms. Yang, allegedly coordinated for the family to pay William Singer, who has admitted to managing the scheme, for securing a spot for a young woman at Yale University. The Journal said that Ms. Yang didn't respond to requests for comment and that Oppenheimer referred to a previous statement in which it said it maintained a "very limited" relationship with Mr. Singer's foundation under the impression it was a college tutoring service, but that the relationship has since been severed.