Feb 7, 2020 - Economy & Business

Former Pimco CEO sentenced to 9 months in prison in college admissions scandal

Former chief exectuive of Pimco Douglas Hodge. Photo: Leonard Ortiz/Digital First Media/Orange County Register via Getty Images

The retired chief executive of Pacific Investment Management, Douglas Hodge, was sentenced to nine months in prison for what a federal judge presiding over the case called "repeated and enduring criminal conduct" in the sprawling college admissions scandal, the Wall Street Journal reports.

Why it matters: Hodge's "tab was the largest of any parent charged," and his sentencing is the harshest so far in the scandal that involves about 50 parents and college coaches across the country, per the Journal.

The state of play: Hodge paid the scheme's ringleader Rick Singer $850,000, as well as Georgetown's former tennis coach and the University of South California, per the Journal. Hodge's case is broader than the other parents involved because he pushed for at least four of his seven children to get into elite schools as athletic recruits over the course of about 10 years, the New York Times writes.

  • He pleaded guilty in October to charges of fraud conspiracy and money-laundering conspiracy.
  • Hodge has been ordered to pay a $750,000 penalty.
  • 20 parents have pleaded guilty and 14 have been sentenced so far in the case, including actress Felicity Huffman, the New York Times notes.
  • 15 parents pleaded not guilty, including actress Lori Loughlin.

Go deeper...Timeline: The major developments in the college admissions scandal

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All the Trump associates convicted or sentenced in the Mueller investigation

Graphic: Andrew Witherspoon/Axios

Longtime Trump associate Roger Stone was sentenced to 4o months in prison for crimes that include obstruction of justice, lying to Congress and witness tampering.

Why it matters: Stone is the seventh person to be convicted and sentenced for crimes unearthed by former special counsel Robert Mueller's investigation. His case has been at the heart of ongoing tensions between President Trump and his Justice Department.

Go deeperArrowUpdated Feb 20, 2020 - Politics & Policy

Yang: We need to "disentangle economic value and human value"

Photo: Joe Raedle/Getty Images

Entrepreneur Andrew Yang during Friday night's Democratic debate shared his take on why many of America's children are still living below the poverty level.

What Yang is saying: "The mission in this campaign has to be for us to disentangle economic value and human value, say they are not the same things. And make the case to each of our fellow Americans we have intrinsic value as citizens, human beings and shareholders of the richest country in the world."

Trump pardons the swamp

Rod Blagojevich in 2010. Photo: Scott Olson/Getty Images

President Trump announced Tuesday that he would commute former Illinois Gov. Rod Blagojevich's 14-year prison sentence for extortion, bribery and corruption — as well as issue full pardons for former San Francisco 49ers owner Edward DeBartolo Jr., former NYPD Commissioner Bernie Kerik and financier Michael Milken.

The big picture: The president's clemency spree largely benefitted white-collar criminals convicted of crimes like corruption, gambling fraud and racketeering, undercutting his message of "draining the swamp."

Go deeperArrowUpdated Feb 18, 2020 - Politics & Policy