Municipal Bonds Investigation 2014

Municipal Bonds Investigation 2014

Division Update Spring 2014

Press Releases

February 10, 2014

Former Bank of America Executive Pleads Guilty for Role in Conspiracy and Fraud Involving Investment Contracts for Municipal Bonds Proceeds

July 24, 2013

Three Former UBS Executives Sentenced to Serve Time in Prison for Frauds Involving Contracts Related to the Investment of Municipal Bond Proceeds

January 3, 2013

Former Financial Services Broker Sentenced to Serve 18 Months in Prison for Role in Conspiracies Involving Investment Contracts for the Proceeds of Municipal Bonds

August 31, 2012

Three Former UBS Executives Convicted for Frauds Involving Contracts Related to the Investment of Municipal Bond Proceeds

July 20, 2012

Former Financial Services Executive Indicted for His Participation in a Far-Reaching Conspiracy and Scheme to Defraud Involving Investment Contracts for the Proceeds of Municipal Bonds

July 18, 2012

Former New York Employee of a Financial Institution Pleads Guilty for His Role in Fraud Conspiracy Involving Municipal Bonds

January 9, 2012

CDR Financial Products Executive and Former Executive Plead Guilty in New York to Bid-Rigging and Fraud Conspiracies Related to Municipal Bond Investments

December 30, 2011

CDR Financial Products and Its Owner Plead Guilty to Bid-Rigging and Fraud Conspiracies Related to Municipal Bond Investments

December 23, 2011

GE Funding Capital Market Services Inc. Admits to Anticompetitive Conduct by Former Traders in the Municipal Bond Investments Market and Agrees to Pay $70 Million to Federal and State Agencies

December 8, 2011

Wachovia Bank N.A. Admits to Anticompetitive Conduct by Former Employees in the Municipal Bond Investments Market and Agrees to Pay $148 Million to Federal and State Agencies

July 7, 2011

JPMorgan Chase Admits to Anticompetitive Conduct by Former Employees in the Municipal Bond Investments Market and Agrees to Pay $228 Million to Federal and State Agencies

May 4, 2011

UBS AG Admits to Anticompetitive Conduct by Former Employees in the Municipal Bond Investments Market and Agrees to Pay $160 Million to Federal and State Agencies

March 30, 2011

Former Employee of Charlotte, North Carolina-Based Bank Pleads Guilty for His Role in Falsifying Bank Records Involving Proceeds of Municipal Bonds

December 9, 2010

Three Former Financial Services Executives Indicted for Fraudulent Conduct Affecting Contracts Related to Municipal Bonds

December 7, 2010

Bank of America Agrees to Pay $137.3 Million in Restitution to Federal and State Agencies as a Condition of the Justice Department’s Antitrust Corporate Leniency Program

December 2, 2010

Former Employee of a Financial Institution Subsidiary Arrested on Criminal Complaint for Role in Fraud Scheme Involving Municipal Bonds

November 30, 2010

Former Employee of a Financial Institution Subsidiary Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Municipal Bonds

September 9, 2010

Former Employee of a National Bank Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Proceeds of Municipal Bonds

September 8, 2010

Former Agent of Financial Products and Services Company Pleads Guilty for Role in Fraud Conspiracies Involving Proceeds of Municipal Bonds

August 12, 2010

Former Owner and Chief Executive Officer of Financial Products and Services Firm Pleads Guilty for Role in Fraud Conspiracies Involving Proceeds of Municipal Bonds

May 19, 2010

Former Employee of Financial Services Company Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Proceeds of Municipal Bonds

March 15, 2010

Third Former Employee of Financial Products and Services Firm Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Proceeds of Municipal Bonds

March 11, 2010

Second Former Employee of Financial Products and Services Firm Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Proceeds of Municipal Bonds

February 24, 2010

Former Employee of Financial Products and Services Firm Pleads Guilty for Role in Bid-Rigging and Fraud Conspiracies Involving Proceeds of Municipal Bonds

October 29, 2009

Financial Products and Services Firm, Two Executives, and One Former Executive Indicted for Roles in Conspiracies Involving Proceeds of Municipal Bonds

Case Filings

U.S. v. Douglas Lee Campbell

U.S. v. Peter Ghavami (aka Peter Ghavamilahidji), Gary Heinz, and Michael Welty

U.S. v. Douglas Alan Goldberg

U.S. v. James L. Hertz

U.S. v. Martin Kanefsky

U.S. v. Phillip Dennis Murphy

U.S. v. Daniel Moshe Naeh

U.S. v. Matthew Adam Rothman

U.S. v. Rubin/Chambers, Dunhill Insurance Service Inc. dba Chambers, Dunhill, Rubin & Co. and CDR Financial Products, Inc.; David Rubin; Zevi Wolmark, aka Stewart Wolmark; and Evan Andrew Zarefsky

U.S. v. Adrian Scott-Jones

U.S. v. Alexander W. Wright

U.S. v. Mark Zaino

U.S. v. Brian Scott Zwerner

Contacts

See our Contact Information page to contact certain offices or individuals in the Division.

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