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Lithium executive pleads not guilty in biggest U.S. college admissions scandal
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Mar 15, 2019 3:27 PM 1+ week ago

NEW YORK (Reuters) - The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world's largest asset managers whose former chief executive is ensnared in the fraud, the company said on Friday.

Some Pimco employees also used William `Rick' Singer's "legitimate college prep services," Pimco said in a statement. "We have no information at this time, however, to indicate Pimco employees acted improperly in their private capacity," Pimco said.

Singer, who last addressed a Pimco event in 2015, is accused by federal authorities of bribing athletic coaches and arranging for phony test-takers to secure clients' children spots at elite universities, such as Stanford, Georgetown and Yale.

One of the parents accused of paying Singer in the alleged scheme is Douglas Hodge, Pimco's former CEO, who left the company in 2017. According to prosecutors, Hodge paid more than $500,000 to enable two of his ...

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