Ex-UBS Bankers Denied Retrial Over Muni Bid-Rigging

Law360, Los Angeles (May 15, 2014, 10:11 PM EDT) -- A New York federal judge refused Thursday to grant a retrial to three former UBS AG executives convicted of rigging bids on municipal bond investments, finding that evidence the government didn't disclose until after the original trial couldn't rescue the defense.

Denying Peter Ghavami, Gary Heinz and Michael Welty's motion for a new trial, U.S. District Judge Kimba M. Wood said an email over a supposedly related transaction that allegedly contradicted testimony by the government's witnesses was immaterial because it was consistent with the government's theory at trial.

A federal jury in August 2012 convicted the former UBS executives of several...

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