William McGlashan, an executive at private equity firm TPG who leads its social impact investing efforts, has been placed on indefinite leave after he was charged in a nationwide scheme to get students into elite colleges
New York .
As part of the conspiracy, which was revealed by US federal authorities Tuesday, parents allegedly paid a college prep organization to take the test on behalf of students or to correct their answers. Additionally, the organization bribed college coaches to help admit the students into college as recruited athletes, prosecutors said. The scandal involves dozens of wealthy parents, coaches and college prep executives.
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