He was facing a year in prison for his role in the college admissions scandal. Now he's serving nine months.
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.
“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.
In a sentencing memo, Hodge’s attorneys asked the court for leniency on the grounds that Hodge was a “mission-driven” philanthropist who donated “well over” $30 million to more than 100 charities between 2007 and 2018. Approximately 95% of those gifts went to support “schools, universities, and programs to assist children in disadvantaged areas,” the memo stated.
Hodge and his wife funded a school and orphanage in Cambodia, and started their own international nonprofit, Global Girls G.L.O.W., according to court documents. The group has served 7,000 girls in 27 countries with mentorship and education programs, according to its website. Hodge spent 28 years at Pimco, serving as CEO from 2014 to 2017, when he retired at age 60, according to court documents. He reportedly received a bonus of $45 million in 2014. Hodge’s attorneys did not respond immediately to a request for comment. Federal prosecutors declined to comment.
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