US Defends Wire Fraud Charge In GE Bid-Rigging Case

Law360, New York (September 2, 2011, 6:00 PM EDT) -- U.S. prosecutors on Friday asked a New York federal judge to reconsider his rejection of a wire fraud charge as time-barred in a criminal case against three former GE Capital executives who allegedly plotted to rig bids for municipal finance contracts.

The alleged scheme occurred in connection with bids submitted by service providers — including Chambers Dunhill Rubin & Co. and related company CDR Financial Products Inc. — who were trying to sell financial products and services to municipalities.

U.S. District Judge Harold Baer tossed the...
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