Former Pimco chief guilty in university admissions scandal

Pedro Gonçalves
Former Pimco chief guilty in university admissions scandal

The former chief executive of Pimcohas pleaded guilty to charges in relation to the ongoing Operation Varsity Blues college admissions bribery scandal in the United States. Douglas Hodge, a resident of Laguna Beach, was accused of paying a total of $525,000 to have his daughter and son admitted to USC as phony soccer and football recruits. In a statement, Hodge — who headed Pimco, one of the world's largest asset managers, from 2014 to 2016 — told the court he had acted "out of love for...

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