Kriti Mehrotra
Netflix’s ‘Operation Varsity Blues: The College Admissions Scandal’ is the latest addition to the streaming platform’s ever-growing roster of true-crime documentaries. Delving deep into the fraudulent and extensive methods used by William “Rick” Singer to help the rich and famous get their children accepted into the top American universities, this film gives us an insight into the reality of what transpired and why. Moreover, with people like Gordon Caplan, John Wilson, and Bill McGlashan making an appearance through recreations as well, we’re more invested in their stories now than ever before. So, let’s find out where Bill McGlashan is today, shall we?
Who is Bill McGlashan?
As a businessman and former international private equity investor with degrees from Yale and Stanford University, after gaining experience in the industry, William “Bill” E. McGlashan Jr. founded TPG Growth – an equity and buyout investment division of the international firm TPG Capital. He was also the original-CEO of an organization by the name of The Rise Fund, a social impact reserve that he co-founded with musician Bono and entrepreneur Jeffrey Skoll. However, Bill’s successful career came to an abrupt end when he was arrested for his role in the college admissions bribery scandal in March 2019.
According to a press release from the US Attorney’s office in Boston, Bill paid Rick Singer $50,000 for him to bribe an ACT administrator to correct his son’s answers without his knowledge “to obtain a fraudulently inflated score.” Furthermore, he also paid to have his son’s academic and athletic abilities in a sport he had never played before enhanced to guarantee a spot at the University of Southern California. When all this information came to light in the spring of 2019, Bill was “terminated for cause” by TPG. He had initially been placed on administrative leave, according to CNN, before being fired.
Where is Bill McGlashan Now?
After nearly two years of battling the legal system and facing his actions’ social and marketing consequences, in early February 2021, William “Bill” E. McGlashan Jr. agreed to plead guilty to one count of aiding and abetting wire fraud and honest services wire fraud. In exchange for this, the court has decided not to proceed with the other initial conspiracy to commit fraud, bribery, and money laundering indictments against him. Although we should mention that this deal is conditional, meaning that Bill can still pull back his guilt admittance and appeal the charges against him.
The 57-year-old has become the 30th parent out of the 33 accused to plead guilty in the college admissions case. And even though the date of his sentencing hearing is scheduled for May 12, 2021, under the terms of his agreement, subject to the federal court’s approval, his punishment has already been decided. Bill McGlashan faces three months in prison, two years of supervised release, 250 hours of community service, and a fine of $250,000. Neither Bill nor his defense team has made a statement regarding this matter since the acceptance of the deal.
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