Ex-Investment Executive Pleads Guilty in Connection to the College Admissions Bribery Scheme

BOSTON — A former private equity executive who cofounded an investment firm with U2’s Bono agreed to plead guilty in connection to the college admissions bribery scheme.

William McGlashan will plead guilty to a single count of wire fraud and honest services wire fraud stemming from allegations that he paid $50,000 to have someone correct his son’s ACT answers, federal prosecutors announced Friday.

Prosecutors had also said he agreed with the admissions consultant at the center of the scheme, Rick Singer, to pay $250,000 to try to get the teen into the University of Southern California as a football recruit but didn’t go through with it.

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