Parent with ‘unlimited resources’ gets bail

BOSTON >> A former top investment manager has appeared in court on charges of paying bribes to get three of his children into top universities as part of a widespread admissions bribery scandal.

The Boston Globe reports that former PIMCO chief executive Douglas Hodge was released Wednesday on $500,000 bond after briefly appearing in federal court in Boston.

He’s faces charges including conspiracy to commit mail fraud. He didn’t enter a plea.

Hodge was granted bail despite a plea from prosecutors, who called him a flight risk with “unlimited resources.”

A lawyer for the 61-yearold Laguna Beach, California, man said Hodge isn’t a flight risk and he returned to the U.S. when he learned of the charges.

Prosecutors say he got his children into school by faking their athletic achievements. Others have been charged related to the scandal, which broke earlier this week.