TPG Capital, one of the world's biggest private equity firms, has placed executive Bill McGlashan on "indefinite administrative leave" after he was named in a sweeping criminal probe of bribery and cheating in college admissions, Forbes reported. Other financiers, from Manuel Henriquez, the CEO of NYSE-listed Hercules Capital, and Doug Hodge, the former head of bond giant Pacific Investment Management, were also named in the probe. Dubbed "Operation Varsity Blues," on Tuesday, the U.S. Attorney in Massachusetts charged 50 people, from television stars, to business leaders, and university coaches of using alleged bribery, fraudulent college entrance exams and quid pro quo deals to get their students into universities, including Yale University, Stanford University, the University of Texas, the University of Southern California, and the University of California – Los Angeles. The schemes were organized by Rick Singer, an owner of a college counseling and admissions company called The Edge College & Career Network and a nonprofit called The Key World Foundation.
