California Private Equity Executive Sentenced in College Admissions Case
BOSTON – A former senior executive at TPG Capital, a global private equity firm, was sentenced today in connection with his involvement in the college admissions case.
William E. McGlashan, Jr., 57, was sentenced by U.S. District Court Judge Nathaniel M. Gorton to three months in prison, two years of supervised release, a fine of $250,000 and 250 hours of community service. On Feb. 10, 2021, McGlashan agreed to plead guilty to one count of wire fraud and honest services wire fraud.
In 2017, McGlashan, the former managing partner of TPG Growth and co-founder of The Rise Fund, agreed to pay co-conspirator William “Rick” Singer to bribe Igor Dvorskiy, a corrupt test administrator, to allow Mark Riddell, a corrupt test “proctor,” to secretly correct McGlashan’s son’s ACT exam answers to obtain a fraudulently inflated score. As a result, McGlashan’s son received a fraudulent ACT score of 34. McGlashan made a purported donation of $50,000 from his personal charitable donation fund to Singer’s sham charity. In turn, Singer paid Dvorskiy and Riddell.
Singer, Dvorskiy, and Riddell have pleaded guilty for their respective roles in the scheme.
Case information, including the status of each defendant, charging documents and plea agreements are available here: https://www.justice.gov/usao-ma/investigations-college-admissions-and-testing-bribery-scheme.
Acting United States Attorney Nathaniel R. Mendell; Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division; Ramsey E. Covington, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigations in Boston; and Mark Deckett, Resident Agent in Charge of the Department of Education, Office of Inspector General made the announcement today. Assistant U.S. Attorneys Justin D. O’Connell, Leslie A. Wright, Kristen A. Kearney, Karin M. Bell and Stephen E. Frank of Mendell’s Criminal Division prosecuted the case.
The details contained in the charging documents are allegations. The remaining defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.