Founder of TPG Growth fired after college admissions cheating scandal

TPG‘s Bill McGlashan was fired from the private equity firm on Thursday amid the massive college cheating scandal.

McGlashan, 55, has been terminated for cause from his positions with TPG and Rise effective immediately.

“After reviewing the allegations of personal misconduct in the criminal complaint, we believe the behavior described to be inexcusable and antithetical to the values of our entire organization,” said a TPG spokesperson.

McGlashan‘s resignation comes after a bombshell criminal complaint that implicated two-high profile actresses and a slew of top business executives in a $25 million to help students, predominately their children, get into prestigious colleges.