Term Sheet — Wednesday, March 13

Twitter is buzzing with news of the college admissions cheating scandal, in which more than 40 people have been accused for paying bribes to get their children into elite schools, including Georgetown, Stanford, UCLA, and Yale.

One of the more high-profile financiers named in the scandal is Bill McGlashan, the founder and managing partner of TPG Growth, a private equity firm with investments in Airbnb and Uber. McGlashan, an advocate of ethical investing, was placed on "indefinite administrative leave effective immediately," according to a statement made to Fortune.

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