Former executive pleads guilty in college admissions scandal

BOSTON (AP) — A former private equity executive who cofounded an investment firm with U2′s Bono pleaded guilty Wednesday to paying $50,000 to have someone secretly correct his son's ACT answers as part of the college admissions bribery scheme.

William McGlashan pleaded guilty to a count of wire fraud and honest services wire fraud before a Boston federal court judge in a hearing held via videoconference.

U.S. District Judge Nathaniel Gorton said he would accept or reject the plea deal, which calls for McGlashan to serve three months behind bars, after considering the presentencing report, a document that contains background on defendants and helps guide sentencing decisions.

McGlashan is the 30th parent to plead guilty in the case that embroiled top universities across the country. Investigators uncovered a scheme in which wealthy parents paid big money to get their kids into elite schools with fake athletic credentials or rigged exam scores.

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