BOSTON—A former senior executive at private equity firm TPG Capital was sentenced on Wednesday to three months in prison for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son’s college entrance exam results.
Prosecutors said Bill McGlashan, the former managing partner of TPG Growth and co-founder of The Rise Fund, paid to ensure that a corrupt test administrator would allow an associate to supervise his son’s ACT exam and secretly correct his answers.
