A parent who initially pleaded not guilty for his participation in the notorious college admissions scandal has agreed to change his plea to guilty, the US Attorney’s Office for the District of Massachusetts said Thursday.
Douglas Hodge, the former CEO of the Pacific Investment Management Company (PIMCO), was among a group of parents who initially pleaded not guilty to a charge of conspiracy to commit fraud, but was later hit with an additional charge of conspiracy to commit money laundering. Hodge would be the first parent hit with the additional charge to change his plea.
A new plea hearing is scheduled for October 21 at 10 a.m., the US Attorney’s Office said in a tweet.
Hodge was accused of agreeing to pay the scheme’s mastermind, William “Rick” Singer, $200,000 to facilitate his daughter’s admission to the University of Southern California as a soccer recruit, and submitted false soccer credentials on her application. He allegedly paid Singer another $325,000 to help his son get admitted to USC as a purported football recruit, prosecutors said.
Singer, who was cooperating with investigators, recorded Hodge acknowledging both scams, according to the indictment.
Hodge is one of 35 parents charged in the scandal. Nearly 20 others, including actress Lori Loughlin, also pleaded not guilty in federal court in Boston in April.
Hodge spent 28 years at PIMCO, one of the largest money managers in the world, and served at least two as CEO. He left in 2017.