Former PIMCO CEO Doug Hodge Named In Fraud Complaint Alongside Aunt Becky From "Full House" - Dealbreaker

Federal Prosecutors unveiled the charges related to an investigation they are calling "Operation Varsity Blues," and more than 50 people are in pretty deep trouble for a systematic scheme of bribing their children into college using fake records and other kinds of fraud. 

It's very embarrassing and dumb, and the press is eating it up because two of the people named are vaguely famous Hollywood actresses: Lori Loughlin and Felicity Huffman. But we were also intrigued because when a bunch of people are using their money and influence to buy status for their children, we assume that finance people MUST be involved. 

And, oh, are they...

The biggest finance name caught up in "Operation Varsity Blues" appears to be former PIMCO CEO Doug Hodge. Well, it's almost certainly him:

 

Screen Shot 2019-03-12 at 12.14.40 PM

Yikes. But the part of this that really grabbed our eye was how bad Doug Hodge is at doing a criminal conspiracy:

Screen Shot 2019-03-12 at 12.18.31 PM

Um, Doug? You do have to talk in code. You're doing a fraud.

JFC, you'd think a guy who spent that much time with Bill Gross would know how to bullshit properly.

But Hodge isn't alone. Another bold finance name in the complaint is TPG Capital's Bill McGlashan:

Screen Shot 2019-03-12 at 12.22.06 PM

McGlashan, who runs TPG's growth fund and is CEO of the non-profit of The Rise Fund that he started with his buddy Bono, is a guy that knows how to produce a good investment. Just look:

Screen Shot 2019-03-12 at 12.26.29 PM

And McGlashan was smart enough to not just stop at pretending his kid was a kicker on a nonexistent team, he got INTO it:

Screen Shot 2019-03-12 at 12.26.50 PM

We are combing through to find anyone else involved but feel free to look for yourself. The complaint is quite a read.

Related

Screen Shot 2019-05-23 at 12.44.47 PM

Area Bank CEO Under Indictment On The Trumpiest Of Charges

Stephen Calk is alleged to have done some very dumb corruption.

northeastern

Inside Track To Northeastern Good For 66% Off Cheating On SAT

Or was, back when people could and would still pay a quarter of a million bucks to get their kids into said college, for some reason.

By Federal Bureau of Prisons (http://www.bop.gov/locations/index.jsp) [Public domain], via Wikimedia Commons

Getting Kids Into Georgetown, USC Just Got Slightly More Expensive For Ex-PIMCO CEO

How much would Douglas Hodge have paid to not spend nine months in jail?

Screen Shot 2019-04-02 at 2.38.11 PM

Yale Student Shows That Fraud Doesn't Need To Stop Once You Get Into An Ivy League School

Hedge fund scammer Omar Zaki gives us hope for the future of elite college education.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Judge Less Interested In Negotiating Than College Admissions Fraudsters

‘You need to go to jail’ is probably not what Manuel Henriquez was hoping to hear.

David Shaw Ivy Hedge

David Shaw Made A Beautiful Hedge Trade On His Kids' Academic Futures

Throwing $1 million every year for a decade at Harvard, Stanford, Yale and Princeton, but giving only half that to Brown and Columbia? That's just solid asset management.