3 Ex-GE Execs Found Guilty Of Muni Bond Bid-Rigging

Law360, New York (May 11, 2012, 7:04 PM EDT) -- A New York federal jury on Friday convicted three former General Electric Co. finance executives of conspiracy for their involvement in a municipal bond-related bid-rigging scheme that involved kickbacks paid to brokers.

Former GE executives Steven Goldberg, Peter Grimm and Dominick Carollo were convicted on all remaining counts in the case, in which the government alleged they paid 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...
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