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Rating:An Ex-Fundster Is About to Plead In the College Admissions Scandal Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, October 18, 2019

An Ex-Fundster Is About to Plead In the College Admissions Scandal

News summary by MFWire's editors

A former fundster chief is expected to change his plea soon in the college admissions scandal.

Douglas Michael Hodge
Yesterday afternoon, the team at the United States Attorney's Office for the District of Massachusetts tweeted that Doug Hodge has agreed to plead guilty in a hearing scheduled for 10am this coming Monday, October 21. Hodge, the retired former CEO of Pimco, was one of numerous parents charged in the scandal back in March, and he was one of 16 parents who was indicted on additional charges in April. 52 people, including 35 parents, have been charged in the scandal, and Hodge would be the 25th to plead guilty.

What Hodge will plead guilty to has yet been revealed. He was initially charged with one count of "conspiracy to commit mail fraud and honest services mail fraud," then in the followup indictment he was also charged with "conspiracy to commit money laundering."

Bloomberg, Citywire, CNN, the Los Angeles Times, the New York Daily News, Reuters, USA Today, and the Wall Street Journal all reported on the news of Hodge's upcoming plea change.

Hodge is accused of paying hundreds of thousands of dollars for bribes and falsified athletic profiles to get two of his kids into USC.

Hodge retired from Pimco in 2017 after 28 years with the bond fund giant, including two and a half years as CEO. 

Edited by: Neil Anderson, Managing Editor


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