Third Parent in Two Days Changes Plea to Guilty in College Scam

(Bloomberg) -- California food executive Michelle Janavs became the third parent in two days to join those pleading guilty in the biggest college admissions scam the U.S. has ever prosecuted.

Janavs follows Manuel Henriquez, the founder and former chief executive officer of Hercules Capital Inc., and Douglas Hodge, former CEO of the giant bond manager Pacific Investment Management Co., or Pimco, in changing plea. Their intentions were announced by the U.S. attorney for Massachusetts, Andrew Lelling, on his official Twitter page.

The three are scheduled to enter their new pleas on Monday.

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