Former investment executive gets 3 months in college scam

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BOSTON (AP) — A former private equity executive who cofounded an investment fund with U2′s Bono has been sentenced to three months in prison for his role in the college admissions bribery scheme. William McGlashan, Jr. appeared at times to fight back tears as he told the judge Wednesday that he was deeply sorry for his actions and was ready to serve his punishment behind bars. McGlashan, a former TPG Capital senior executive, admitted in February to paying $50,000 to have someone secretly correct his son’s ACT answers. Among more than 60 letters of support for McGlashan filed by his lawyers was a letter from McGlashan’s son, who told the judge that nothing other than “parental insanity” explains his father’s involvement in the scheme. 

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