Board Thread:Speculation House/@comment-4830106-20131108040231/@comment-82.12.156.248-20140304084855

I think Ozpin knows of the fake transcripts. I just don't think he cares. He probably sees Jaune's potential and given his mentioning of making "more mistakes than any man, woman or child on this planet" it's also likely that he doesn't judge Blake for sins committed whilst aligned with the White Fang.

Hell I wouldn't be surprised if he. One of the last episodes from Year 1 will likely consist of Ozpin calling the duo to his office and then scaring the shit out of them for several minutes with hints that he knows of their lies. Finally they'd admit everything and Ozpin would laugh much to the chagrin of both before offering the pair a place in the second year, without the fake transcripts, he just needs to find a reason why they could enroll despite not having the credentials, likely tied with good performances in the Vytal Festival (likely Blake) or some highly valiant deed somewhere down the line (likely Jaune).