Judge gives ex-Pimco CEO a break on prison sentence because of his history of philanthropy

Judge gives ex-Pimco CEO a break on prison sentence because of his history of philanthropy
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The ex-Pimco chief executive caught up in the college admissions scandal got a lighter sentence because of his history of philanthropy, a judge said Friday.

U.S. District Judge Nathaniel Gorton said he had planned to sentence former Pimco CEO Douglas Hodge to one year in prison, but decided to give him a “discount” because of his philanthropic endeavors, Bloomberg reported. Gorton sentenced Hodge to nine months and ordered him to pay a $750,000 fine and perform 500 hours of community service. It is still the stiffest penalty yet in the widespread college admissions scandal.

Hodge pleaded guilty in October to paying $850,000 in bribes to get four of his children into Georgetown University and the University of Southern California under the guise that they were tennis, soccer and football recruits.

“Mr. Hodge, your conduct in this whole sordid affair is appalling and mind-boggling at the same time,” Gorton said, according to USA Today. “It is unbelievable that someone of your education, intelligence and involvement in philanthropy and successful professional activities could have been for so long and so intimately a party to the systematic, pervasive bribing of college officials to get their kids into school.”

Source: MarketWatch

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