Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

Screenshot Reuters.com
VOTE  (0)  (0)

Former Pimco chief to plead guilty in U.S. college scam case


Added 10-17-19 10:10:03pm EST - “Douglas Hodge, the former chief executive of the investment firm Pimco, has agre...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “Former Pimco chief to plead guilty in U.S. college scam case”. Below is an excerpt from the article.

BOSTON (Reuters) - Douglas Hodge, the former chief executive of the investment firm Pimco, has agreed to plead guilty to participating in what prosecutors say is the largest college admissions scam uncovered in the United States, according to a court filing on Thursday.

Hodge is scheduled to appear in federal court in Boston on Monday to enter the plea after being charged with engaging in a bribery scheme in order to facilitate the admission of two of his children to the University of Southern California as fake athletic recruits.

The specific counts to which Hodge will plead were not clear. He was previously indicted on charges of conspiring to commit fraud and money laundering. Brien O’Connor, a lawyer for Hodge, declined to comment.

Hodge is among 52 people charged with participating in a vast scheme in which wealthy parents conspired with a California college admissions consultant to use bribery and other forms of fraud to secure the admission of their children to top schools.

William “Rick” Singer, the consultant, pleaded guilty in March to charges he facilitated cheating on college entrance exams and helped bribe sports coaches at universities to present his clients’ children as fake athletic recruits.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE