Hercules Capital Plunges as CEO Charged in Admissions Scheme
- Company’s shares lost 8.9 percent after arrests announced
- Couple allegedly arranged bribe to Georgetown tennis coach
Photographer: Chris Goodney/Bloomberg
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Hercules Capital Inc. investors took a beating Tuesday as its Chief Executive Officer Manuel Henriquez was among those charged in an alleged college-admission cheating conspiracy.
The company’s shares dropped as much as 10 percent during the day, before closing down 8.9 percent. The firm facilitates loans to startups and venture capitalists, and lists Facebook Inc. and Pinterest Inc. among companies it has worked with.