The former head of asset management firm Pimco was sentenced on Friday to nine m...
- The former head of asset management firm Pimco was sentenced on Friday to nine months in prison for his part in a scheme in which privileged parents paid bribes to get their children into U.S. colleges, federal prosecutors said.
The prison term imposed by U.S. District Court Judge Nathaniel Gorton in Boston was less than the two years prosecutors had sought, but the longest of the 15 defendants who have admitted guilt and been sentenced since the nationwide cheating scandal came to light last March. Hodge paid bribes totaling $850,000 over nearly 11 years to get two of his children into Georgetown University and two others into the University of Southern California, prosecutors said.
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