Feds Say Certain Tapes In UBS Bid-Rigging Case Are Hearsay

Law360, New York (August 1, 2012, 6:38 PM EDT) -- The U.S. Department of Justice on Wednesday moved to exclude certain audio recordings of Gary Heinz made by two cooperating witnesses in the trial of Heinz and two other ex-UBS AG employees charged with bid-rigging in the municipal finance market, arguing the recordings are hearsay.

The government said cooperating witnesses Mark Zaino and Douglas Campbell made several consensual recordings of their conversations with Heinz that the defense will try to use to show Heinz said things that exonerate him.

The DOJ maintains that those statements are...
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