Manuel Henriquez has resigned as Chief Executive Officer of Hercules Capital and TPG executive William McGlashan has been placed on indefinite leave at the private equity firm after they were accused in a scam to help their children get into top colleges.Henriquez, 55, resigned as chairman and CEO of his California-based venture capital firm, according to a company statement, which did not mention the admissions scheme. He was arrested in New York on Tuesday and released on $500,000 bail.
“As a result of the charges of personal misconduct against Bill McGlashan, we have placed Mr. McGlashan on indefinite administrative leave effective immediately,” TPG said in a statement. It said Jim Coulter, co-CEO of TPG, will be interim managing partner of TPG Growth and The Rise Fund.
NBC29 How very sad What we teach our children.
Wow just sad that people feel their children were not smart enough. It’s about status for these people I know it drains my husband and I to put our last two boy thru collage we worry every year if we will be eligible for the lone so they can go.
So when are they going to go & investigate realDonaldTrump we all know he “donated” funds & what about Kushner’s parents are they being investigated also?
Real 👇
Wealth Privilege alive and well in good 'ol USA🇺🇸 CollegeCheatingScandal
The media jumped on Jared Kushners college education forgetting that he's a legacy 😁🤣🤣
Shouldn’t the colleges be recieving the blame? I mean they are the ones who accepted these payments.