Ex-GE Execs Ripped Off Cities In Muni Bond Scam, Jury Told

Law360, New York (April 16, 2012, 4:49 PM EDT) -- Federal prosecutors on Monday kicked off a criminal trial against three former General Electric Co. finance executives accused of municipal bond-related bid-rigging, charging that the men “ripped off” cities and towns by conspiring with brokers.

Former GE executives Steven Goldberg, Peter Grimm and Dominick Carollo, their onetime supervisor, are accused of paying kickbacks to brokers who were supposed to be working for cities with bond money to invest.

While at GE, the three bid on access to money that municipalities had raised in bond offerings but...
To view the full article, register now.

Related

Sections

Case Information

Case Title

USA v. Carollo et al


Case Number

1:10-cr-00654

Court

New York Southern

Nature of Suit

Date Filed

July 27, 2010

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.