Tuesday, March 12, 2019

Report: TPG Capital Executive Charged In College Fraud Scandal

A far reaching college admissions scandal, which named Hollywood actresses, CEOs, the UT Austin men's tennis coach as defendants, also has snagged an executive at private equity firm TPG, according to a complaint filed by the Justice Department on Tuesday. William E. McGlashan Jr., a partner at the private equity firm TPG, was charged--among with thirty three other parents--with a scheme which involved bribing coaches to give their children admission into schools, regardless of their academic or sports ability--by designating them as "college athletes". The complaint alleges that McGlashan participated in an scheme, run by the "Edge College & Career Network", which included submitting fake athletic profiles for his son, and where someone was paid to take the ACT for McGlashan's son in order to boost his scores.