Former BofA Exec Testifies He Bribed UBS For Rigged Bid

Law360, New York (August 13, 2012, 8:06 PM EDT) -- A former senior Bank of America Corp. official told a New York federal jury Monday that he paid $175,000 in bribes to UBS AG in 2002, after three of the Swiss bank's traders rigged the bidding on a municipal bond contract in his favor.

Douglas Campbell, a former municipal bond marketer at Bank of America, took the witness stand to kick off the third week of trial in the government's case against former UBS employees Gary Heinz, Peter Ghavami and Michael Welty. Campbell has been cooperating...
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