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Ex-TPG Star Bill McGlashan Gets Three Months in College Scam

  • McGlashan admitted to paying $50,000 to boost son’s ACT score
  • Deal with U.S. includes unusual provisions for plea withdrawal
Bill McGlashan arrives at federal court in Boston in 2019.
Bill McGlashan arrives at federal court in Boston in 2019.Photographer: Scott Eisen/Bloomberg
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Former top TPG Capital LP executive Bill McGlashan’s decades of good works and social-consciousness fund raising weren’t enough to dissuade a federal judge from ordering him to prison after being caught cheating to get his son into college.

“You will serve at least some time in jail, to demonstrate that even the rich and famous cannot avoid the rule of law,” U.S. District Judge Nathaniel Gorton told McGlashan Wednesday. “Your enormous wealth, privilege and pride overwhelmed all of what you want to stand for by your words and charity and philanthropy. You entered into a conspiracy to cheat your son’s way into a prestigious university.”