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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ TPG executive Bill McGlashan fires the & # 39; reason & # 39; in ties in the college admission scheme

TPG executive Bill McGlashan fires the & # 39; reason & # 39; in ties in the college admission scheme



McGlashan concluded the reason why the company reviewed allegations outlined in a criminal complaint named after him, according to a statement from TPG. The company said firing was "effective immediately." He was on administrative leave from Tuesday.

As part of the conspiracy, parents are paid by a college prep organization to get the exam on behalf of the students or correct their answers. Additionally, the organization advised college coaches to assist in admission to college students as recruited athletes, prosecutors said. The scandal includes dozens of rich parents, coaches and prep colleges.

McGlashan agrees to pay $ 250,000 to participate in the same part of the procedure, according to the complaint. The purpose is to get her son accepted at the University of Southern California.

"[W] e believes the behavior described as unspeakable and antithetical in the values ​​of our entire organization," TPG said in a statement. ] McGlashan said he resigned from TPG. In a letter to the board of directors of the company, delivered to McGlashan's CNN Business, he wrote that "the progress we have made is very important for you to interfere with the issues I personally face."

"Even if my heart breaks down to write it, I now feel the right thing to resign from The Rise Fund and TPG Growth," wrote McGlashan. "As you can imagine, my main concern at this point is for my family. I am also focused on responding to the allegations shown, and there are aspects of the story that have not yet come that I want to share." [1

9659003] McGlashan is the founder and serves as the managing of TPG Growth, which has invested in companies such as Airbnb, Spotify and Uber. He also started the Rise Fund of TPG, which has partnered with Bond and focused on investments that promote environmental and social wellbeing.

In December 2017, McGlashan allegedly paid $ 50,000 to the charitable arm of the college prep group with the understanding that the company would correct his child's responses to the ACT. His son received a score of 34 from a possible 36, the complaint said.

McGlashan, whose conversations were recorded by wiretap, were also accused of cooperating with a prep school company in a so-called "side door" framework. It is involved in creating a fake athletic profile for his son, to be shown as a football kicker. The USC allows him to accept him as a retired athlete, according to court documents.

In August 2018, while talking to a co-conspirator, identified as Cooperating Witness-1, McGlashan agreed to find a picture of his son who could be photoshopped onto a football kicker

"Okay Okay, let me look through what I have Pretty funny The way the world works these days is unbelievable," McGlashan said. She repeatedly expressed her desire to keep the procedure hidden from her child.


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