قالب وردپرس درنا توس
Home / Business / TPG executive Bill McGlashan fired ‘for cause’ over ties to college admissions scheme

TPG executive Bill McGlashan fired ‘for cause’ over ties to college admissions scheme



McGlashan was "terminated due" after the company examined the allegations outlined in a criminal complaint that appointed him, according to a statement by TPG. The company said the shooting was "effective immediately". He was on administrative leave from Tuesday.

As part of the conspiracy, the parents would have paid a college preparation association to take the test on behalf of the students or to correct their answers. In addition, the organization has corrupted college coaches to help admit college students as recruited athletes, the prosecutor said. The scandal involves dozens of wealthy parents, coaches and college prep leaders.

McGlashan has agreed to pay $ 250,000 to participate in both parts of the scheme, according to the complaint. The aim was to have his son admitted to the University of Southern California.

"[W] and I believe that the behavior described is unjustifiable and antithetical to the values ​​of our entire organization," TPG said in a declaration. [1

9659005] McGlashan says he resigned from TPG. In a letter to the company's board of directors, which was provided to CNN Business by McGlashan's spokesman, he wrote that "the progress we have made is too important for you to be distracted by the issues I am facing personally."

"Even if it breaks my heart to write this, I feel that now is the right thing to resign from The Rise Fund and TPG Growth," McGlashan wrote. "As you can imagine, my main concern at this point is for my family, I will also focus on facing the accusations that have been presented, and there are aspects of the story that have yet to emerge that I wish I could share." [19659003] McGlashan is the founder and has served as managing partner of TPG Growth, which has invested in companies such as Airbnb, Spotify and Uber. It has also launched TPG's Rise Fund, which has partnered with Bono and focuses on investments that promote the environmental and social good.

In December 2017, McGlashan would pay $ 50,000 to the charity arm of the college prep group with the knowledge that the company would correct his son's answers on the ACT. His son eventually received a score of 34 out of a possible 36, the complaint said.

McGlashan, whose conversations were recorded by telephone tapping, is also accused of working with the college preparation company on a so-called "side door" admission track. This resulted in the creation of a false athletic profile for his son, who would be presented as a footballer. This would allow USC to accept him as a recruited athlete, according to court documents.

In August 2018, during a recorded conversation with a co-conspirator, identified as Cooperating Witness-1, McGlashan agreed to look for a child photo of him that could be photoshopped on a soccer kicker.

"Okay, okay, let me look through what I have. Pretty funny, the way the world works these days is incredible," McGlashan said. He repeatedly expressed a desire to keep the scheme hidden from his son.


Source link