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Ex-Direct Access CEO Sentenced to Four Years in Bribe Scheme

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The former chief executive officer of Direct Access Partners LLC, a New York-based broker-dealer, and his partner were sentenced to four years in prison for their roles in a bribery plot to win bond-trading business from an economic development bank owned by Venezuela’s government.

Benito Chinea, who pleaded guilty in December, received almost the maximum five-year sentence for conspiring to pay millions of dollars in bribes to the head trader at Banco de Desarrollo Economico y Social de Venezuela, or Bandes. He was sentenced Friday in Manhattan federal court.