Former private equity executive sentenced to three months in college admissions scandal

A former private equity executive was sentenced to three months in prison after admitting his involvement in the college admissions scandal, The Associated Press reported.

Former TPG Capital senior executive William McGlashan Jr. was among 50 people who were arrested in the case known as Operation Varsity Blues.

The investigations, which first broke in 2019, showed how some wealthy parents were taking illegal actions to try to get their children admitted to top schools.

Thirty parents involved in the scheme have already pleaded guilty to crimes. 

McGlashan admitted in February that he paid $50,000 to have his son’s ACT scores secretly corrected. Prosecutors also said that McGlashan agreed to pay $250,000 for his son to join the University of Southern California as a football recruit but didn’t go through with the plan, according to the AP. 

McGlashan pleaded guilty to one charge of aiding and abetting wire fraud and honest services wire fraud.

Prosecutors agreed to drop three other charges against McGlashan in exchange for his defense team’s agreeing to the three-month prison term.

McGlashan gave a tearful apology for his actions in his sentence hearing on Wednesday. 

“In a world where fairness is in short supply, what I did is totally unacceptable,” McGlashan said, according to the AP. “I’m totally committed to using my resources and time to making a positive impact in the world the rest of my life.”

McGlashan will report to prison on June 9, according to the AP.