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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