Ex-UBS Director Pleads Guilty In Muni Bond Fraud Case

Law360, New York (May 19, 2010, 4:58 PM EDT) -- A former UBS AG director has pled guilty to criminal bid-rigging and fraud charges related to contracts for the investment of municipal bond proceeds, making him the fourth person to enter a guilty plea in a scheme involving CDR Financial Products Inc.

Mark Zaino pled guilty to one count of bid-rigging, one count of conspiracy to commit fraud and one count of wire fraud for his role in the scheme and has agreed to cooperate with investigators, according to a criminal information the U.S. Department of...
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