Ex-CEO Douglas Hodge gets nine months in college admissions scandal - New York Post

The former CEO of the asset management giant Pimco got a nine-month prison sentence in the college admissions scandal — the heaviest punishment for a parent so far.

Douglas Hodge, 62, was sentenced in Boston Friday for admittedly paying $850,000 over the course of more than a decade to get four of his kids admitted to elite private universities.

“Mr. Hodge, your conduct in this whole sordid case is appalling and mind-boggling at the same time,” US District Judge Nathaniel Gorton told the retired Pimco honcho.

“There is no term in the English language to describe your conduct better than the Yiddish term chutzpah,” the judge told Hodge, who has been described by prosecutors as among the most culpable of the dozens of parents ensnared in the scandal.

The father paid bribes to get two of his children accepted into the University of Southern California and two others into Georgetown University, according to prosecutors. He was also accused of attempting to use bribes to get a fifth child into Loyola Marymount University.

Hodge — who said he was remorseful and driven by his “deep parental love” — was also ordered to serve 500 hours of community service and pay a $750,000 fine.

Hodge had pleaded guilty in October to a slew of conspiracy, fraud and money laundering charges. Prosecutors had asked for two years in the slammer.

Hodge has insisted that admissions scheme mastermind William “Rick” Singer had lied to him, telling him that his cash would support university programs and poor student athletes.

But in a pre-sentencing letter to the judge, he’d admitted that he continued to funnel cash to Singer even after learning the truth.

“For that, I am deeply ashamed and remorseful,” he wrote to the judge.

Hodge’s stiff sentence may be sobering to the more than a dozen parents who have pleaded not guilty and say they intend to go to trial, including “Fuller House” actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli.

The two are accused of paying $500,000 to get their daughters, Olivia Jade Giannulli, 20, and Isabella Rose Gianullli, 21, into the University of Southern California as fake rowing recruits.

“Desperate Housewives” actress Felicity Huffman pleaded guilty to paying a $15,000 bribe and was sentenced to two weeks behind bars — but was released after serving 11 days.

With Post wires

2020-02-07 20:11:00Z
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