Former investment executive gets 3 months in college scam

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

BOSTON -- A former private equity executive who cofounded an investment fund with U2′s Bono was sentenced Wednesday 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 he was deeply sorry for his actions and was ready to serve his punishment behind bars. "In a world where fairness is in short supply what I did is totally unacceptable," McGlashan said in the hearing held via videoconference. "I’m totally committed to using my resources and time to making a positive impact in the world the rest of my life," he said. McGlashan, a former TPG Capital senior executive, admitted in February to paying $50,000 to have someone secretly correct his son’s ACT answers.