Ex-UBS Execs Convicted Of Bid-Rigging Charges

Law360, New York (August 31, 2012, 2:12 PM EDT) -- A New York federal jury on Friday convicted three former UBS AG executives of rigging bids on municipal bond investments, a scheme that cheated towns and cities out of potential revenues.

After two days of deliberations, the jury found Peter Ghavami, Gary Heinz and Michael Welty guilty of several counts of conspiracy and wire fraud for favoring large investors over the municipalities for which they were supposed to be working. Though the defendants remained stone-faced as the jury foreman read the verdict, a few of their...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Magistrate judge case number: 


Case Number

1:10-cr-01217

Court

New York Southern

Nature of Suit

Date Filed

December 9, 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.