The former chief executive and a former managing director of
defunct broker-dealer Direct Access Partners pleaded guilty to their roles in a
bribery scheme that stretched from Wall Street to Caracas. Benito Chinea, the
former CEO, and Joseph De Menses, a managing director in the New York-based
firm’s global markets group, were at the heart of a multimillion dollar scheme
to bribe Maria De Los Angeles Gonzalez De Hernandez, who was a senior official
in Venezuela’s state economic development bank, in exchange for trading
business that generated more than $60 million in commissions. They were charged
in April in a 16-count indictment. More
Friday, December 19, 2014
Direct Access Partners Executives Plead Guilty in Venezuela Bribery Scheme
The former chief executive and a former managing director of
defunct broker-dealer Direct Access Partners pleaded guilty to their roles in a
bribery scheme that stretched from Wall Street to Caracas. Benito Chinea, the
former CEO, and Joseph De Menses, a managing director in the New York-based
firm’s global markets group, were at the heart of a multimillion dollar scheme
to bribe Maria De Los Angeles Gonzalez De Hernandez, who was a senior official
in Venezuela’s state economic development bank, in exchange for trading
business that generated more than $60 million in commissions. They were charged
in April in a 16-count indictment. More
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