Bono’s Investment Partner Arrested in Connection with College Admissions Scandal
While some high-profile names have been directly linked to the college admissions scandal (aka: Operation Varsity Blues), there’s a new name now indirectly linked to the drama: Bono.
Bill McGlashan, the U2 frontman’s partner in The Rise Fund, an investment firm specializing in social justice causes, was arrested as part of the ongoing scandal for allegedly paying out bribes to get his son admitted into the University of Southern California. Per Vanity Fair, McGlashan is accused of paying $50,000 to boost his son’s ACT scores. On top of that, McGlashan supposedly discussed paying out an additional $250,000 so his son could be admitted to USC through the now infamous “side door” of saying he was a “promising athlete.”
While McGlashan is actually fighting the mail fraud charges levied against him following his March 12 arrest, his involvement is shining a very unpleasant light on The Rise Fund. Vanity Fair said Bono declined to comment on McGlashan’s arrest, but he was “shocked” and then “furious” about the news. A source did say, “[Bono’s] not letting this deter him. He just feels there are big challenges we’re facing that won’t be solved by government alone. Government is essential, but we need to leverage private capital, too.”
Erica Banas is rock/classic rock news blogger that loves the smell of old vinyl in the morning.
