News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
During the second calendar quarter, there were four corporate FCPA enforcement actions and eight individual resolutions (seven related to Direct Access Partners). There were also three guilty pleas by individuals.
Akamai Technologies and Nortek Inc.… Continue Reading
The Securities and Exchange Commission said Friday that seven individuals from a registered broker-dealer settled charges related to bribes paid to a former official of a Venezuelan state-owned bank.
In federal court in Manhattan, Judge Jesse Furman entered final judgments against Iuri Rodolfo Bethancourt, Benito Chinea, Tomas Alberto Clarke Bethancourt, Joseph DeMeneses, Jose Alejandro Hurtado, Ernesto Lujan, and Haydee Leticia Pabon.… Continue Reading
A former official of a Venezuelan state-owned bank was sentenced Friday to time served for taking at least $5 million in bribes from a Wall Street broker-dealer in exchange for trading business.… Continue Reading
A Miami-based broker from Direct Access Partners was sentenced to three years in prison Tuesday for being the middleman in a scheme to bribe a Venezuela state bank official in exchange for bond trading work.… Continue Reading
Tomas Clarke, a former senior vice president at New York-based Direct Access Partners who worked in the firm’s Miami office, was sentenced to two years in prison Tuesday for his role in bribing a Venezuela bank official.… Continue Reading
A former executive of a Wall Street broker-dealer was sentenced Friday to two years in prison for bribing an official at a state-owned bank in Venezuela in exchange for trading business.… Continue Reading
The former chief executive officer of Direct Access Partners LLC and a managing director were each sentenced to four years in prison Friday for bribing a Venezuela state bank official in return for bond trading business.… Continue Reading
The former chief executive officer of Direct Access Partners LLC and a former partner at the brokerage firm were charged in federal court in New York Monday for bribery involving Venezuela’s state bank.… Continue Reading
A former vice president from Venezuela’s state economic development bank pleaded guilty Monday and agreed to cooperate with prosecutors investigating a massive bribery and fraud scheme by a U.S. broker.
Maria de los Angeles Gonzalez de Hernandez, 55, admitted in federal court in New York to taking $5 million in kickbacks from Direct Access Partners LLC in exchange for bond-trading business from her employer, Banco de Desarrollo Económico y Social de Venezuela (Bandes).… Continue Reading
DOJ and SEC enforcement of the FCPA slowed a bit during the summer months. But after a blockbuster Q2, the third quarter still saw four guilty pleas, one more than the prior quarter, and three declinations, up from two in the previous three months.… Continue Reading
The DOJ said Friday another broker from Direct Access Partners pleaded guilty to bribing foreign officials in Venezuela in exchange for bond trading work.
Jose Alejandro Hurtado pleaded guilty in New York federal court to six counts of conspiring to violate the Foreign Corrupt Practices Act, to violate the Travel Act, and to commit money laundering, as well as substantive counts of the offenses.… Continue Reading
Two executives of an SEC-register broker-dealer pleaded guilty Thursday to bribing an official of a state-owned Venezuelan bank in exchange for bond trading business.
Ernesto Lujan, a former managing partner of Direct Access Partners, and Tomas Alberto Clarke Bethancourt (also known as Tomas Clarke), a former senior vice president, pleaded guilty to conspiracy, money laundering, and violating the Foreign Corrupt Practices Act.… Continue Reading