NY Broker-Dealer Execs Charged In $60M Bribery Scheme

Law360, New York (April 14, 2014, 7:19 PM EDT) -- Two former Direct Access Partners LLC executives were indicted Monday and pled not guilty to participating in a $60 million bribery and kickback scheme between the New York broker-dealer and a Venezuelan state-owned bank.

Benito Chinea and Joseph Demeneses were hit with a 16-count indictment in New York federal court alleging they participated in a scheme to bribe a senior official at Banco de Desarrollo Economico y Social de Venezuela, or BANDES, in exchange for millions of dollars of bond-trading business. Chinea formerly served as the...
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