NEW YORK (Reuters) – TPG Capital said on Thursday it had fired senior executive Bill McGlashan after he was charged in connection with a U.S. college fraud scheme that has ensnared Hollywood celebrities and corporate elite.
“We believe the behavior described to be inexcusable and antithetical to the values of our entire organization,” TPG said in a statement.
Statement - Spokesman - McGlashan - TPG - Rise
In a separate statement via a spokesman, McGlashan said he was resigning from the TPG Rise Fund and TPG Growth. McGlashan was managing co-founder and chief executive of TPG’s impact investing Rise Fund.
“I will be focused on addressing the allegations that have been presented, and there are aspects of the story that have yet to emerge that I wish I could share,” he said.
McGlashan - Leave - Wednesday - Investigation - US
McGlashan, who was placed on indefinite administrative leave on Wednesday, was among those named in an investigation by U.S. authorities into a scheme that helped wealthy Americans cheat their children’s way into elite universities.
TPG Capital has offered investors in its Rise Fund II the...
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