Ex-Pimco Chief Will Plead Guilty in College Scandal
- Move comes after nine parents sentenced, eight of them to jail
- Douglas Hodge paid hundreds of thousands in bribes, U.S. says
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Douglas Hodge, the former Pimco chief accused of using a middleman to cheat his kids’ way into elite colleges, will plead guilty, according to prosecutors.
Hodge, who once led the giant bond manager Pacific Investment Management Co., is accused of bribing sports coaches at the University of Southern California and Georgetown University. He is one of 35 parents charged in the nationwide scandal.