A former private equity executive who cofounded an investment fund with U2′s Bono has been sentenced to three months in prison for his role in the college admissions bribery schemeBOSTON -- A former private equity executive who cofounded an investment fund with U2′s Bono was sentenced Wednesday to three months in prison for his role in the college admissions bribery scheme. "In a world where fairness is in short supply what I did is totally unacceptable," McGlashan said in the hearing held via videoconference. McGlashan, a former TPG Capital senior executive, admitted in February to paying $50,000 to have someone secretly correct his son’s ACT answers. “You have let your enormous wealth privilege and pride overwhelm all of what you want to stand for,” Gorton told him. Prosecutors agreed to drop three of the four charges he was facing, including accusations involving Singer's so-called “side-door" athletic recruitment scheme.

Source: ABC News May 12, 2021 16:41 UTC