College admissions scandal: Bill McGlashan out at TPG after cheating scandal

A second financial executive left his job this week after being charged in a sweeping college admissions scam that has the Justice Department accusing some 50 parents of cheating and bribery to get their children into elite schools.

Bill McGlashan, CEO of a “social-impact” investment fund managed by private equity firm TPG, was “terminated for cause” from his position with TPG, the company said by email. But McGlashan, who managed TPG Growth, which invested in companies including Spotify and Airbnb, disputed the characterization, with a spokesperson emailing that McGlashan had resigned Thursday afternoon. 

“The progress we have made is too important for you to be distracted by the issues I am facing personally,” McGlashan wrote TPG…

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