The former CEO of U.S. broker-dealer Direct Access Partners (DAP), Benito Chinea, and a former DAP managing director, Joseph Demeneses, each pleaded guilty one count of conspiracy to violate the FCPA and the Travel Act in connection with a scheme to bribe an official at a Venezuelan development bank, Banco de Desarollo Económico y Social de Venezuela (BANDES), in exchange for the official’s directing BANDES’ trading business to DAP. Sentencing for both Chinea and Demeneses currently is set for March 27, 2015. Docket Sheet,United States v. Chinea, No. 14-cr-240 (S.D.N.Y. filed on Apr. 10, 2014) (noting change of plea and sentencing date). Three other DAP employees and the BANDES official pleaded guilty last year for their participation in the same scheme. The SEC also has brought related civil charges against a number of former DAP executives. DAP itself has not been charged either civilly or criminally and has filed for bankruptcy.