Hercules Capital CEO is stepping down after being accused of buying his daughter’s way into Georgetown
The head of a California venture capital firm is out of a job after being charged in a sweeping college admissions scam. Manuel Henriquez, co-founder, chairman and CEO of Hercules Capital, has “voluntarily stepped aside,” though he will remain a board member and adviser, the Silicon Valley-based financial firm said Wednesday.
Released on $500,000 bail after his arrest on fraud charges Tuesday, Hernriquez is accused of paying at least $250,000 to buy his daughter’s entry into Georgetown University, and is one of 50 people indicted in a scheme unveiled by federal prosecutors on Tuesday.
