Ex-UBS Director Fingers Execs In Muni Bond-Rigging Trial

Law360, New York (July 31, 2012, 2:58 PM EDT) -- A former UBS AG director turned government informant told a New York federal jury Tuesday that he and three other UBS executives conspired to rig bids on municipal bond contracts, providing a key piece of testimony for prosecutors.

Mark Zaino, who pled guilty to bid-rigging and fraud in May 2010, took the stand on the second day of trial as the star witness in the government's case against his former UBS colleagues, Peter Ghavami, Gary Heinz and Michael Welty.

Wearing a striped red tie and black...
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