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Pimco admitted that some of its leaders had used the "legitimate" services of the college admissions counselor, at the center of a $ 25 million corruption scandal, while stating that He had never had an official relationship with his company.
William "Rick" Singer, the admissions consultant who emerged at the center of the $ 25 million scandal, has spoken twice with Pimco executives. Some employees have used his "legitimate" university preparation services. his relationship with Mr. Singer and his company.
Former Pimco CEO Douglas Hodge was among those caught in the investigation of parents who paid bribes to secure the admission of their children to American universities. The criminal complaint indicated that Mr. Hodge, who ran Pimco from 2014 to 2016, "had agreed to use bribery to facilitate the admission of two of his children to the USC as so-called recruits. sports ".
In a statement released Friday afternoon, the bond – based badet management company said:
Pimco has never had a business relationship with Rick Singer or his college readiness organization. Neither Pimco nor the Pimco Foundation have ever paid Mr. Singer or donated money to his Foundation. As part of a regular series featuring dozens of outside speakers, Pimco has invited Mr Singer to speak twice during the last decade, the last in 2015, on the process of developing the program. admission to colleges. Like many families in Southern California, some Pimco employees used Singer's legitimate college readiness services. However, we have no information that Pimco employees acted improperly privately.
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