Former TPG Capital executive Bill McGlashan admitted paying $50,000 to boost his son's test scores, the latest parent to plead guilty in the U.S. college admissions scandal as the ranks of those fighting the charges thin.
Mr. McGlashan, 57, acknowledged aiding and abetting the testing fraud and will serve three months in prison and pay a $250,000 fine under an agreement with federal prosecutors, who dropped three more-serious charges against him. He is the 30th parent, of more than three dozen charged, to admit guilt in a sprawling case that has claimed prominent figures from finance, industry and entertainment.
"Guilty," Mr. McGlashan declared Wednesday, appearing at a videoconference hearing in federal court in Boston.
The government's key witness in the vast case was the scheme's admitted mastermind, William "Rick" Singer, a college admissions adviser who agreed to secretly plead guilty and record his conversations with parents. Mr. McGlashan's family flew to Los Angeles from northern California in December 2017 so his son could take the ACT college entrance exam at a testing facility operated by a co-conspirator of Mr. Singer, Assistant U.S. Attorney Justin O'Connell told the court.