USA: Imprisonment of former PIMCO CEO after paying bribes in exchange for his children’s studies

Nine months in prison were sentenced to Douglas Hodge, who was convicted of providing bribes for receiving his children to universities. The judge eased his sentence for charity, and the tycoon apologized for saying it out of love. In addition, dozens of other parents have been charged - including "Desperate Housewives" star and other celebrities

"There is no English term to describe his conduct." The tycoon convicted of bribery. Douglas Hodge (Photo: Reuters)

Douglas Hodge leaves Boston court after being sentenced to jail for bribing his children to college, Feb. 7, 2020 (Photo: Reuters)

Former CEO of leading US investment company PIMCO, tycoon Douglas Hodge, was sentenced on Friday to nine months in prison for bribing nearly $ 1 million - for accepting his children to universities in the United States. The sentence sentenced to him is the most severe of those receiving dozens of parents Others were convicted of similar offenses, and prosecutors even called him "one of the most guilty".

Last October, Hodge pleaded guilty to money laundering and fraud charges. He was charged with bribing $ 850,000 over a decade to get four of his seven children to Georgetown University, Washington, DC, and to the University of Southern California, Los Angeles - for a standard of athletes. Prosecutors said Hodge tried to do the same with his fifth child, to be admitted to Loyola Marymount University in Los Angeles.

In sentencing in federal court in Boston, Massachusetts, Judge Nathaniel Gorton said that "there is no English language term that describes your conduct - as the term" chutzpah "describes in Yiddish. Judge Gorton said he would also give him 12 months in jail for the bribery offenses that were repeated over a long period of time, but he considered the defendant's charitable acts.

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She was also charged with bribery. Actress and model Lori Loklin (Photo: AP)

Actress Lori Loplin was charged with bribing for her children to university, April 3, 2019 (Photo: AP)

Hodge resigned as CEO of PIMCO in 2016, and his defense team claimed it deserved reduced punishment in the face of his philanthropy. .

In court, Hodge expressed remorse for his actions and even tearfully said that ego or status were not the ones that motivated him to do the deeds. "What motivated me was a parent's love for his children and their educational experience," he explained.

In addition to Hodge, another 35 parents were charged with bribing in exchange for getting their children to elite universities, such as Yale and Stanford. Many of these parents are celebrities or successful businessmen, who are believed to have paid $ 6.5 million to cheat on university entrance exams or bribe top coaches to offer their children athletic scholarships.

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Dozens of bribes accused. "Desperate Housewives" star Felicity Huffman (Photo: AP)

Actress Felicity Huffman was convicted of bribing for her children to attend college, September 13, 2019 (Photo: AP)

Among the parents involved in the affair, actress Lori Luclin and her husband, fashion designer Musimo Giannoli, were also accused of allegedly paying $ 500,000 to have their two daughters admitted to the University of South Carolina. Another celebrity accused of bribery offenses is the star of "Desperate Housewives" television series Felicity Huffman, who was sentenced to 14 days in jail and received a $ 30,000 fine.

The trials of 15 parents accused of bribery and fraud are expected to take place during the year. The universities were not accused of anything and were told that the issue was being examined in depth.