Two Bear Stearns executives in Dallas plead guilty to corruption charges

The two were snagged as part of a far-reaching city corruption sting in El Paso.

Photo not provided by Bear Stearns

Rich white guys committing crimes? Surely, this is a sign of the coming apocolypse

DALLAS — According to this story in the Dallas Business Journal, it appears two top executives working in the Dallas office of global investment banker Bear Stearns have pleaded guilty today to corruption charges relating to a municipal bond scandal in El Paso.

Roberto G. Ruiz, who was the managing director of Bear Stearns' Dallas office up until June of this year, and Christopher Chol-Su Pak, a former vice president, also in the Dallas office, are two of the executives snagged in a federal investigation into shady dealings involving $2 million in municipal bonds, bribes to public officials and multiple counts of mail and wire fraud in El Paso's community colleges and city and county governments.

Posted by Todd M.