Ex-UBS Banker Charged In Muni Bond Probe

Law360, New York (December 3, 2010, 12:14 PM EST) -- The former head of UBS AG's global commodities division has been arrested and charged with wire fraud as part of a broader probe into bid-rigging and fraud in the municipal bond industry.

Peter Ghavami, a Belgian national, was arrested after landing at New York's John F. Kennedy International Airport on Wednesday, and he was arraigned Thursday on one count of wire fraud in the U.S. District Court for the Southern District of New York, the U.S. Department of Justice said.

According to prosecutors, Ghavami, now a...
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