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LEGAL Calif. firm, executives accused of bid rigging A California financial products firm, two current executives and a former executive were indicted Thursday for bid rigging and fraud related to municipal bond contracts, the Justice Department said. Full Article at The Washington Post
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WASHINGTON (AP) - A politically connected financial firm and two of its executives were indicted Thursday for what prosecutors say was a bid-rigging scheme in the municipal bond business. Full Article at WCAX
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WASHINGTON WASHINGTON (AP) - Federal authorities have indicted a Beverly Hills, Calif. , firm and two of its executives for an alleged bid-rigging scheme in the municipal bond business. Full Article at Ventura County Star
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Reuters top ten news stories delivered to your inbox each day. Full Article at Reuters
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Federal authorities have indicted a Beverly Hills, Calif. , firm and two of its executives for an alleged bid-rigging scheme in the municipal bond business. Full Article at TheNewsTribune.com
Related Quotes
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There is no way that CDR could have carried out the kind of controlled market bid-rigging that's described ... It's contrary to the way the market works, and it's also contrary to CDR's role in saving municipal issuers tens of millions of dollars in interest costs and managing financial risks for more t...
SOURCE: Los Angeles Times -
This case is fundamentally about collusion, the illegal rigging of a purportedly competitive bidding process
SOURCE: WCAX -
The illusion of power is the most dangerous drug on the planet ... A little bit of power - nothing intoxicates like it.
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The result was lower rates of return on the investment of bond proceeds for the state and local governments that hired CDR. In a climate of economic austerity, the conduct of the defendants and co-conspirators seems particularly predatory
SOURCE: Los Angeles Times
