The head of a Silicon Valley hedge fund who became ensnared in a massive college bribery scandal is stepping down.
Manuel Henriquez, who was also the top executive investment giant PIMCO until 2016, will be replaced as CEO and chairman of Hercules Capital in Palo Alto.
Henriquez was arrested in New York City and released on $500,000 bail after a brief appearance in Manhattan federal court Tuesday.
According to court documents obtained by KPIX 5, Henriquez and his wife, Elizabeth, paid a $25,000 bribe to get a cooperating witness to sit “side-by-side with the daughter during the exam and provided her with answers to the exam questions, and after the exam, he “gloated”…about the fact that they had cheated and gotten away with it.”
This article has been summarised, the full original article can be found at sanfrancisco.cbslocal.com