William McGlashan, an executive at private equity firm TPG who leads its social impact investing efforts, has been placed on indefinite leave after he was charged in a nationwide scheme to get students into elite colleges
New York .
As part of the conspiracy, which was revealed by US federal authorities Tuesday, parents allegedly paid a college prep organization to take the test on behalf of students or to correct their answers. Additionally, the organization bribed college coaches to help admit the students into college as recruited athletes, prosecutors said. The scandal involves dozens of wealthy parents, coaches and college prep executives.
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Private equity giant TPG has put a top exec on leave after he was charged in a college admissions scandalMcGlashan founded TPG Growth and the Rise Fund, which focuses on investing in solutions to social and environmental problems.
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Federal Prosecutors Charge Dozens in College Admissions Cheating SchemeProsecutors said the operation involved paying admissions-test administrators to help the students raise their test scores, by either having someone else take the test, or correcting their answers before they were submitted
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Actresses charged in college admissions cheating scheme: Live updates.BrookeBCNN: Remember back when you studied hard 'and spent all the extra time on scholarship applications, and then waited with bated breath for the letter or e-mail to come in the mail? Turns out if you are rich and famous, you could have paid for it.'
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U.S. charges dozens in college admissions fraud schemeHollywood actresses Felicity Huffman and Lori Loughlin among parents charged in college admissions fraud scheme
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Celebrities, wealthy parents charged by FBI in college admissions schemeThe DOJ charged a number of wealthy parents — and celebrities — for being involved in a conspiracy to cheat their way into elite colleges. The conspiracy charges include cheating on entry exams (SAT and ACT) and bribing university staff and or faculty
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Private equity giant TPG has put a top exec on leave after he was charged in a college admissions scandalMcGlashan founded TPG Growth and the Rise Fund, which focuses on investing in solutions to social and environmental problems.
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