Feb 7, 2020 - Economy

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

Rashaan Ayesh

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

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