Canada

Former TPG Capital exec sentenced to three months in prison for U.S. college scam

BOSTON — A former senior executive at private equity firm TPG Capital was sentenced on Wednesday to three months in prison for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son’s college entrance exam results.

Bill McGlashan, the former managing partner of TPG Growth and co-founder of The Rise Fund, was also ordered by U.S. District Judge Nathaniel Gorton in Boston to pay a $250,000 fine after pleading guilty in February to a wire fraud charge. (Reporting by Nate Raymond in Boston Editing by Chizu Nomiyama)

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