Former TPG Capital executive Bill McGlashan will plead guilty in the US college admissions scandal

<p><img src="https://static6.businessinsider.com/image/601ec3b2cca90200129b6da8-2366/Bill McGlashan .jpg" border="0" alt="Bill McGlashan " data-mce-source="John Salangsang/Invision for The Hollywood Reporter/AP Images" data-mce-caption="Bill McGlashan in 2015." data-link="https://newsroom.ap.org/detail/THRsEntertainmentBusinessManagers/502ee8acca9e45359740fdc03aadd51f/photo'Query=bill%20AND%20mcglashan&amp;mediaType=photo,video,graphic,audio&amp;sortBy=arrivaldatetime:desc&amp;dateRange=Anytime&amp;totalCount=22&amp;currentItemNo=6"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p><a href="https://www.businessinsider.com/hollywood-mogul-and-former-tpg-exec-fights-college-admissions-charges-2019-12'r=bc-sub">Bill McGlashan, a former TPG Capital senior executive</a>, has agreed to plead guilty in the US college admissions scandal that has resulted in charges against dozens of business leaders and celebrities.</p><p>McGlashanthe founder of TPG Growth and Rise Fundwas previously<a href="https://www.businessinsider.com/tpg-places-bill-mcglashan-on-leave-after-college-admissions-scandal-2019-3"> placed on leave by TPG Capital, a private equity firm,</a> in March 2019 after he was indicted by the FBI.</p><p>Now, McGlashan will plead guilty to one count of wire and honest services wire fraud, according to a Friday news release from the <a href="https://www.justice.gov/usao-ma/pr/california-private-equity-executive-agrees-plead-guilty-college-admissions-case">US Attorney's office in Boston</a>.&nbsp;</p><p>According to the release, McGlashan <a href="https://www.insider.com/william-rick-singer-the-accused-ringleader-college-admissions-scandal-2019-3">paid William "Rick" Singerthe scandal's "ringleader"</a>$50,000 to bribe <a href="https://www.insider.com/college-admissions-cheating-scandal-full-list-people-charged-2019-3">Igor Dvorskiy, a "corrupt" test administrator and director at a private school in Los Angeles</a>. Dvorskiy then allowed Mark Riddella Florida private school counselor who was accused of taking college entrance exams and correcting test answers for studentsto change McGlashan's son's ACT exam answers for a higher score.</p><p>The fake ACT score was then sent to Northeastern University, <a href="https://www.latimes.com/california/story/2021-02-05/former-tpg-executive-william-mcglashan-to-plead-guilty-in-college-admissions-scandal">the Los Angeles Times reported</a>.</p><p>The date of McGlashan's hearing has not been announced yet, but Singer, Dvorskiy, and Riddell have already pleaded guilty to their charges.&nbsp;</p><p>McGlashan's lawyers declined to provide a comment.</p><p>According to the plea agreement, McGlashan<a href="https://www.insider.com/college-admissions-cheating-scandal-full-list-people-charged-2019-3">the 30th parent to plead guilty</a>will receive a $250,000 fine, three months in prison, and 250 hours of community service.&nbsp;</p><p>McGlashan was also accused of <a href="https://www.businessinsider.com/schwab-college-admissions-scandal-what-is-a-donor-advised-fund-2019-12'r=bc-sub">trying to bribe his son's way into the University of Southern California</a> by posing his son as an athlete, according to the original indictment. McGlashan has <a href="https://www.businessinsider.com/coaches-fired-college-admissions-scam-2019-3">denied this "side door" charge</a> and will not plead guilty for it.</p><p>As part of the agreement to plead guilty, the court will not charge McGlashan with <a href="https://www.justice.gov/usao-ma/investigations-college-admissions-and-testing-bribery-scheme">three of the four original charges</a>: conspiracy to commit fraud, bribery, and money laundering, <a href="https://www.latimes.com/california/story/2021-02-05/former-tpg-executive-william-mcglashan-to-plead-guilty-in-college-admissions-scandal">the Los Angeles Times reported</a>. However, his plea will be conditional, which means he can still appeal the charge and pull back his guilty plea, <a href="https://www.wsj.com/articles/former-tpg-executive-to-plead-guilty-in-college-admissions-case-11612565299">according to a report from the Wall Street Journal</a>.</p><p>Other public figures that have been charged in the college admissions scandal include <a href="https://www.businessinsider.com/felicity-huffman-lori-loughlin-charged-college-admissions-scandal-2019-3">actresses Felicity Huffman and Lori Loughlin</a> and<a href="https://www.businessinsider.com/pimco-ex-ceo-faces-prison-in-us-college-admissions-bribery-scheme-2020-2"> Douglas Hodge, the former CEO of Pacific Investment Management Co</a>.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/tech-ceos-react-to-jeff-bezos-stepping-down-as-amazon-ceo-2021-2" >Tech CEOs including Google's Sundar, Salesforce's Marc Benioff, Microsoft's Satya Nadella congratulate outgoing Amazon CEO Jeff Bezos and his successor, Andy Jassy</a></strong></p><p><a href="https://www.businessinsider.com/former-tpg-capital-executive-bill-mcglashan-guilty-college-admissions-scandal-2021-2#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/why-gucci-clothes-racist-blackface-sambo-2019-2">Why these Gucci clothes are racist</a></p>
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