Ex-Bay Area executive pleads guilty, paid $50K to have son’s college admissions test answers corrected

(The AEGIS Alliance) – On Wednesday, a former non-public equity executive who co-founded an investment agency with U2′s Bono pleaded guilty to paying $50,000 to have somebody secretly change his son’s ACT (A Standard College Admissions Test) to the correct answers as a part of the ongoing college admissions bribery scandal cases.

William McGlashan pleaded guilty to one count of wire fraud and trustworthy services wire fraud in front of a Boston federal courtroom judge in a hearing held by way of videoconference.

U.S. District Judge Nathaniel Gorton stated he would settle for or reject the plea deal, which requires McGlashan to serve three months in jail, after contemplating the presentencing report, a document that comprises background on defendants and helps guide sentencing decisions.

McGlashan is the thirtieth mother or father to plead guilty in the case that embroiled top universities throughout the nation. Investigators uncovered a scheme through which rich parents paid large amounts of cash to get their children into elite colleges with bogus athletic credentials or rigged exam scores.

McGlashan’s attorneys declined to touch upon Wednesday. The former managing companion at San Francisco-based TPG Capital co-founded an investment firm with U2 singer Bono in 2017.

Under McGlashan’s distinctive plea deal, he would have the possibility to withdraw his guilty plea if he prevails on an appeal of a judge’s ruling rejecting a motion to dismiss. He has additionally agreed to finish 250 hours of community service and pay a $250,000 fine.

Prosecutors agreed to drop three of the 4 charges he was dealing with, together with accusations that McGlashan paid $250,000 to attempt to get his son into the University of Southern California as a football recruit.

McGlashan had fiercely denied these accusations and mentioned he informed Rick Singer, the ‘mastermind’ behind the scandal that he didn’t wish to take part in the so-called “side door” scheme. McGlashan’s attorneys have said in courtroom paperwork that his son applied as a reputable candidate and withdrew his application prior to even being admitted.

William McGlashan is due for sentencing in May.

Kyle James Lee – The AEGIS Alliance – This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.