Former TPG Capital exec to plead guilty in U.S. college admissions scandal

A former senior executive at private equity firm TPG Capital has agreed to plead guilty to charges that he participated 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, has agreed to plead guilty to a wire fraud charge arising from the U.S. college admissions scandal, federal prosecutors in Boston said Friday. (Editing by Diane Craft)