Douglas Hodge, former CEO of the investment management firm Pimco, was accused of paying bribes from 2008 to 2015 in order to get two of his … [15], He pleaded guilty in October 2019 to conspiring to commit fraud and money laundering. Here’s how they’re responding. Hodge Tried to Contact Singer Again During Investigation. [4][3][7] In 2014 it was reported that he had received an annual bonus of $45 million. He is accused of getting one of his daughters and one of his sons into the University of Southern California using bribes to facilitate athletic recruitment admissions in 2013 and 2015 – but the alleged false admissions started years earlier, according to the criminal complaint. Read more: Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram. In February 2020 he was sentenced to nine months in federal prison, and to pay a $750,000 fine and serve 500 hours of community service, as a result of the charges. After Georgetown admitted the older daughter in 2016, the Henriquezes family trust paid $400,000 to Singer’s sham charity, which prosecutors said then … Here’s how Lori Loughlin got her 2 influencer daughters with millions of followers into USC through an admissions scam, according to investigators. Here’s the full list of people charged in the college-admissions cheating scandal. The daughter enrolled at USC in fall 2013, but did not join the soccer team. He also paid $525,000 to have another daughter and … Hodge first contacted William Singer, the man allegedly at the center of the alleged scheme, in 2008 to ask for help on his daughter’s application to Georgetown University. Douglas Hodge (born 25 February 1960) is an English actor, director, and musician who trained for the stage at the Royal Academy of Dramatic Art. Hodge's daughter then submitted an application to Georgetown asserting she had won a number of United States Tennis Association (USTA) tournaments, while in fact she had never played in a USTA match. After the daughter was admitted, Hodge was instructed to direct a $US150,000 payment to The Key, Singer’s for-profit company also known as Edge College and Career Network, in April 2013, according to court documents. Gordon Ernst falsely designated at least 12 applicants, including those who did not play tennis competitively, as recruits for the Georgetown tennis team, according to the March 12 indictment. Hodge's daughter then submitted an application to Georgetown asserting she had won a number of United States Tennis Association (USTA) tournaments, while in fact she had never played in a USTA match. Hodge’s daughter submitted an application to Georgetown indicating she had won multiple United States Tennis Association tournaments, but records showed she had never played in … According to the court … Former PIMCO CEO Douglas Hodge has five kids. When asked for photos of the son playing sports, Hodges spouse noted “she had not been able to find photos of the son who was applying to USC playing football, but had found photos of his brother playing football,” according to court documents. [3] He was in charge of the Asia-Pacific region from the company's Tokyo office from 2002 to 2009. Hodge is then accused of contacting Singer again in in 2012 in hopes of arranging his younger daughter’s admission to USC. Hodge was chief operating officer from 2009–2014. [12][13], Also according to the affidavit, in August 2018 Hodge called Singer to ask about getting his youngest son into Loyola Marymount University. [10][12] The son was admitted to USC as a purported football recruit, but never joined the football team. Read more: Douglas Hodge, the former chief executive Pacific Investment Management Co . False athlete profiles were then made for the boy, saying he played varsity football and was team captain, court documents said. [5][3] In 2009, CEO Mohamed El-Erian named Hodge chief operating officer, telling him—according to Hodge: "You're the person I trust."[2]. [14], The charges provide for sentences of a maximum of 20 years in prison, three years of supervised release, and a fine of $250,000 or twice the gross gain or loss, whichever is greater. [1][2] He received an undergraduate degree from Dartmouth College (BA in Economics, 1979), and an MBA from Harvard Business School (1984). I adopted a dog in 2020, and this handheld vacuum cleaner helped me keep fur off every surface in my house, A company in Uganda is turning the waste from bananas into rugs, place mats, and baskets, How metalworkers in India are keeping the 600-year-old craft of Bidri art alive, Doing these 24 uncomfortable things will pay off forever, Yes, Apple just killed iTunes — here's what that means for your library of music, movies, and TV shows. [10][12] She was admitted into USC, but did not ever play soccer. After the son was admitted in March 2015, Singer mailed Donna Heinel, the senior associate athletic director at USC, a $US75,000 check payable to USC’s “Womens Athletic Board.”. [9], In March 2019 Hodge appeared in US federal district court in Boston to face charges of conspiracy to commit mail fraud and honest services fraud, asserting that he allegedly paid over a half a million dollars in bribes so that three of his children would be admitted into Georgetown University and the University of Southern California (USC), as part the 2019 college admissions bribery scandal. [5][3][1] He was also a board trustee of The Thacher School in Ojai, California, since 2011, until March 15, 2019, when the school's Board of Trustees asked for his resignation. Hodge then contacted Singer in 2018 to discuss his youngest son’s admission to Loyola Marymount University. Hodge was born in New York, New York, and grew up in suburban Boston and Connecticut. USTA records show she never played a match, court documents said. Over more than a decade, they said, Mr. Hodge paid $850,000 in bribes — $325,000 to a Georgetown University tennis coach to have his eldest daughter … Singer helped Hodge’s oldest daughter apply to Georgetown. Hodge was among the parents who maintained their innocence but later changed their plea after pressure from prosecutors. [12][13], In 2013 Hodge used Singer again, this time to help another daughter get into USC. [17][14], In February 2020, the Wall Street Journal newspaper published an Opinion piece written by Mr Hodge titled, "I Wish I'd Never Met Rick Singer"[18], Securities Industry and Financial Markets Association, Federal Correctional Institution, Otisville, "An interview with Douglas Hodge of PIMCO,", "Can Pimco's quiet point man shine in public? He pleaded guilty in October 2019 to the felony of conspiring to commit fraud and money laundering. Both as firms and as individuals, we need to personify trustworthy values... Willful violations of the rules should not be tolerated... [What is needed is] a stronger emphasis on ethics and integrity. William Singer, who’s allegedly at the center of the admissions scheme, as part of a $US25 million college admissions scheme, is one of at least 40 people indicted on Tuesday, William Singer, the man allegedly at the center of the alleged scheme, Actresses Felicity Huffman and Lori Loughlin among dozens charged by FBI with participating in a scheme to get students into elite colleges, Here’s the full list of people charged in the college-admissions cheating scandal, Investigators say parents were editing their kids’ heads onto stock photos of athletes to help get them into elite colleges. [12] Assistant US Attorney Eric S. Rosen told the court Hodge was a flight risk with “unlimited resources,” and facing a maximum prison term of 20 years if convicted. Actresses Felicity Huffman and Lori Loughlin among dozens charged by FBI with participating in a scheme to get students into elite colleges. Court documents say that Georgetown accepted the older daughter of Douglas Hodge, the former PIMCO CEO, as a tennis recruit in 2008 but do not mention any money changing hands. The FBI had a court-ordered wiretap, and listened in, as Hodge told Singer: “We don't have to talk in code. The younger daughter’s application to the school stated she was co-captain of a Japanese national soccer team and “All American” on a prestigious club soccer team in the United States, court documents allege. We took a 4-hour flight on the new Delta Airbus jet that Boeing tried to keep out of the US. According to the criminal complaint, Hodge first contacted Singer in 2008 to ask for help on his daughter's application to Georgetown University. The Best Snapchat Games To Play Right Now, Disable UPnP On Your Wireless Router Already, This Android Wallpaper Can Brick Your Phone. The plea change comes […] $US25 million college admissions scheme to help get children into universities through alleged bribes and false athletic recruitments. [5][3] Hodge initially worked for the company as a senior account manager and as a global product manager. A former Georgetown tennis coach was charged with accepting bribes from parents to secure their children’s college admission in an indictment involving eight U.S. universities Tuesday. Douglas Hodge, one of the most prominent business executives charged in the case, said, “I acted out of love for my children, but I know that this explanation for my actions is not an excuse.” [3] In October 2012 he gave a speech at the Securities Industry and Financial Markets Association (SIFMA) Annual Meeting, entitled "Restoring Trust in the New Normal", in which he lamented that the financial industry had squandered the trust of the public with a series of scandals in the industry, with some in the industry having been guilty of "downright dishonesty". Ex-Pimco CEO Douglas Hodge has been sentenced to nine months in prison over the college admissions scandal, after he paid bribes to get four of his children into universities. Prosecutors say Douglas Hodge paid $525,000 to ensure one daughter’s acceptance to USC as a soccer recruit. Douglas Hodge, the former Pimco chief who once safeguarded the retirement savings of millions of Americans, was sentenced to nine months in prison for … On Hodge's daughter's application, it stated that she had won multiple United States Tennis Association tournaments. In February 2020 he was sentenced to nine months in federal prison, and to pay a $750,000 fine and serve 500 hours of community service, for his participation in the 2019 college admissions bribery scandal. Hodge first contacted William Singer, the man allegedly at the center of the alleged scheme, in 2008 to ask for help on his daughter’s application to Georgetown University. [8] He was also on PIMCO's executive committee, and on the global executive committee for Allianz Asset Management, the governing body of asset management for the Allianz Group. PIMCO declined to comment. Douglas Hodge, of Laguna Beach, California, is one of at least 40 people indicted on Tuesday in the scheme to help get children into universities through alleged bribes and false athletic recruitments. [12] [10] The daughter was accepted to Georgetown with assistance from the tennis coach, who is now also being criminally charged, and she never played tennis at the university. Track vaccinations Database of arrests Your questions answered Virus numbers by state Hodge… Admissions just needs something to work with to show he is an athlete,” the affidavit said. By then Hodge was emailing Singer about his son, who at the time as a junior in high school and thinking about applying to USC, court document said. The pair have two daughters, Sofia, 18, and Georgia, 16. [2][4][1], He joined Pacific Investment Management Company (PIMCO) in 1989. Prosecutors said Douglas Hodge paid $850,000 in bribes to help his children get admitted to USC and Georgetown Douglas Hodge, right, former … At the direction of law enforcement agents, Singer informed Hodge that the IRS was conducting an audit on KWF. [12][13], Also according to the affidavit, in December 2014 Hodge asked Singer by e-mail if his son, who was in high school, was “really qualified” for USC. Mollie Rose Hodge is an English celebrity child. Here’s how investigators say the scheme worked. Here's what it was like. [16] He was imprisoned in the Federal Correctional Institution, Otisville and was released on 03/19/2021. Singer then payed $US50,000 from KWF to the “SC Futbol Academy” private soccer team, headed by Laura Janke, a former assistant coach of women’s soccer at USC, court documents said. Douglas Hodge, who led the Pacific Investment Management Company, agreed to use Rick Singer's college admissions "side-door" scam for five of his … We know how this works.”[12][13], According to the affidavit, in November 2018 in a taped call Singer told Hodge that his charitable foundation was being audited. Douglas Hodge, former CEO of Pimco, is expected to plead guilty Monday in the nation's college admissions scandal. He was also instructed to pay $US50,000 to Key Worldwide Foundation, a nonprofit that prosecutors say acted like a front in the admissions scheme, the court documents claim. 8 colleges were named in the massive college-admissions scandal. [12] Hodge's daughter then submitted an application to Georgetown asserting she had won a number of United States Tennis Association (USTA) tournaments, while in fact she had never played in a USTA match. Manuel and Elizabeth Henriquez, Douglas Hodge and Michelle Janavs, who all initially pleaded not guilty, changed their pleas to guilty in a Boston federal court. On Hodge’s daughter’s application, it stated that she had won multiple United States Tennis Association tournaments. I moved to the US from China — here are the biggest cultural differences I've noticed between the 2 countries, Bath & Body Works is now a standalone company — we visited a store and saw why it's been L Brands' secret weapon, CBA and NAB pass on RBA interest rate cut in full, but ANZ and Westpac defy Treasurer Josh Frydenberg's orders, How to watch Netflix on your TV in 5 different ways, The incredible story of Ferrari's 72-year journey from an upstart racing team to a $27 billion luxury brand, Former PIMCO CEO Douglas Hodge was indicted on Tuesday as part of the the. Hodge is a council member of the National Youth Theatre for which, in 1989, he co-wrote Pacha Mama's Blessing about the Amazon rain forests staged at the Almeida Theatre. Hodge left PIMCO in 2017. [12] Singer forwarded the note to a then-USC assistant soccer coach (who is now criminally charged), writing: “See below — I am sure there is a tennis one too. Her admission was guaranteed, prosecutors said, with an application that falsely described her as a competitive tennis player and two checks for $75,000 each that her “I … The former PIMCO CEO has been charged with conspiracy to commit mail fraud and honest services mail fraud. And that's all I'm going to say.”[12][13] he paid a total of $850,000 to Singer. Hollywood actresses and the wealthy are accused of paying to get their kids into elite colleges by cheating on exams and faking athletic skills. Five thick kids, apparently, or at least too thick for their preferred colleges, in this case Georgetown, USC … Douglas is an English musician. USC parent Douglas Hodge, the former CEO of investment management firm Pimco, pleaded guilty Monday in a Boston federal court, admitting his involvement in the nationwide college admissions scheme. [12][13], Hodge first began paying Singer in 2008, when he wanted to have Georgetown University admit one of his daughters. The boys look alike so I thought a football one would help too?”[12] Two days later, Hodge e-mailed a different USC athletic department official (who is now criminally charged): “We are preparing [my son's] 'sports resume' as you requested and should be able to send it on to you early next week.”[12] His athletic profile during the admissions process stated falsely that he played varsity football as a sophomore through his senior season, was the varsity team's captain, and that he had twice been a New Hampshire “Independent Schools All-American Selection,” when in fact he had only played freshman football. Court documents say that Georgetown accepted the older daughter of Douglas Hodge, the former PIMCO C.E.O., as a tennis recruit in 2008 but do not mention any money changing hands. In About-Face, UK Will Not Allow Huawei To Be Involved In Any Part Of... Universal Orlando Parks Will Reopen June 5 Despite Risk Of... Pro-Privacy Lawmakers Secure A Vote To Protect Browsing Data From... Jurassic World: Dominion Is Definitely Not The Planned End Of The... White Twitch Talk Show Host Finally Drops 'Rajj Patel' Moniker, Everything We Know About The PlayStation 5. [12], The allegations detailed how Hodge paid entities controlled by William “Rick” Singer (who has entered a guilty plea admitting that he was the ringleader of the scheme) and corrupt school officials, to bribe coaches and college officials to get them to present Hodge's children as sports team recruits, despite them not having the requisite athletic ability. The son enrolled at USC, but he did not join the football team. In May 2013, Singer sent $US50,000 from KWF to the private soccer club, according to court documents. Hodge first contacted William Singer, the man allegedly at the center of the alleged scheme, in 2008 to ask for help on his daughter's application to Georgetown University. "[6], Hodge was chief executive officer of PIMCO, the world's largest bond manager, from 2014-2016. [3][4], Hodge worked first as a bond trader at Salomon Brothers from 1984 to 1989. […] DOUGLAS HODGE Douglas Hodge, the former CEO of the investment management firm Pimco, was accused of paying bribes from 2008 to 2015 in … Also, according to prosecutors, one of Hodge’s daughters enrolled at Georgetown University in 2009 as a tennis player under indicted former … She is popular as the daughter of Douglas Hodge and Tessa Peake Jones. Douglas M. Hodge (born in 1957) is an American businessman. [12][13], Singer wrote to Hodge in an e-mail: “Obviously we have stretched the truth but this is what is done for all kids. Court documents say Hodge … [12] He added: “He would go there in a heartbeat! ", "Douglas M. Hodge; Chief Executive, PIMCO,", "Former Pimco CEO Doug Hodge to Retire After 28 Years at Firm", "Pimco paid billionaire Gross $290 million bonus in 2013,", "Douglas Hodge: 5 Fast Facts You Need to Know", "Former PIMCO CEO Faces Judge For College Admission Scam", "Calif. parent in college bribery scheme appears in Boston court", "Affidavit in Support of Criminal Complaint", "Ex-Pimco Chief Is Ready for Prison -- But Wants New Hearing", "Laguna CEO Charged in Admissions Scandal", "Ex-CEO of investment giant Pimco given longest sentence to date in college admissions scandal", https://en.wikipedia.org/w/index.php?title=Douglas_Hodge_(businessman)&oldid=1016387607, Short description is different from Wikidata, Articles with unsourced statements from March 2021, Creative Commons Attribution-ShareAlike License, This page was last edited on 6 April 2021, at 22:18. admitted to bribing his children's way into USC and Georgetown … [3] He retired in 2017. [6] He concluding by saying that for the industry to restore trust, "it starts at the top, with us, the leaders of the financial industry. [12] He was released on $500,000 bond. It is unclear if it’s the same football club that was mentioned earlier in court documents involving Hodge and Singer. The $325,000 Hodge paid for a son and his eldest daughter to enter Georgetown University went to the school’s tennis coach. Hodge’s daughter submitted an application to Georgetown indicating she had won multiple United States Tennis Association tournaments, but records showed she had never played in … actor and director. The boys look alike so I thought a football one would help too?” the email said, according to court documents. PENNY DREADFUL, series [ 2014-16 ]. [13] [11] The daughter was accepted to Georgetown with assistance from the tennis coach, who is now also being criminally charged, and she never played tennis at the university. [10][11][12] He did not enter a plea. A week later, Hodge wired $US125,00 to The Key, and $US125,000 to KWF. Huffman is accused of paying $15,000 to have her daughter's exam proctored by Mark Riddell. On Hodge’s daughter’s application, it stated that she had won multiple United States Tennis Association tournaments. “See below-I am sure there is a tennis one too. Douglas Hodge paid bribes of $850,000 over nearly 11 years to get two of his children into Georgetown University and two others into the University of Southern California. He is the former CEO of Pacific Investment Management Company (PIMCO), the world's largest bond manager. Four parents accused of bribery and fraud to gain their children’s acceptance to Georgetown University pleaded guilty for their roles in the college admissions scandal Monday. [citation needed], He also served as an executive committee member and on the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA). A former CEO of Pacific Investment Management Company (PIMCO) helped facilitate the admission of two of his children as purported athletic recruits as part of a $US25 million college admissions scheme, court documents reveal. [12] Recruits had a better chance of being admitted, as compared to non-recruits with similar academic credentials. [12][10] The daughter was accepted to Georgetown with assistance from the tennis coach, who is now also being criminally charged, and she never played tennis at the university. Hodge assured Singer that “I'm not going off script here... That foundation has — its stated mission is to help underserved kids basically get into — you know, through — get through college. [12] She was falsely presented to a USC committee as a soccer recruit who had played on a national champion tournament team, was co-captain of a Japanese national team, and was an All-American. “I … In October 2012 and February 2013, court documents allege payments of $US50,000 from Singer’s business account to a bank account in the name of an unnamed private soccer club controlled by the head coach and assistant coach of women’s soccer at USC at the time. !”[12] Singer responded: “No but I can try to work a deal ... maybe Basketball or Football will give me a spot since their kids are not that strong.”[12] The next month Hodge's wife e-mailed Singer that she could not find photos of the son playing football, but had pictures of his brother playing football.
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