FBI Seizes Investment Broker Records Across The U.S.

Law360, New York (November 17, 2006, 12:00 AM EST) -- The Federal Bureau of Investigations has raided financial firms from coast to coast as part of an investigation into whether banks and other financial institutions conspired to rig bids for investment deals with local governments.

A Department of Justice spokeswoman said Thursday the agency’s antitrust department was investigating the possibility of anti-competitive practices in the municipal bond industry.

Financial firms help government agencies invest money generated by municipal bond sales in guaranteed investment contracts, which allow the proceeds of bond issues to earn interest until they...
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