Broker-Dealer Execs Plead Guilty In $60M Bribery Scheme
Law360, New York (December 17, 2014, 7:34 PM EST) -- Two former executives of broker-dealer Direct Access Partners LLC pled guilty Wednesday to participating in a $60 million bribery scheme arising out of the company's transactions with a Venezuelan bank, in violation of the Foreign Corrupt Practices Act.
Benito Chinea, the company's former CEO, and Joseph Demeneses, a former managing director in its global markets group, entered the pleas in a Manhattan courtroom on Wednesday, according to a spokesman for the U.S. Attorney's Office for the Southern District of New York.
Each pled guilty to conspiracy to violate the FCPA and to violate the Travel Act.
U.S. District Judge Denise Cote...
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