Updated Thursday, July 31, 2014 as of 1:46 PM ET
Portfolio - Fixed Income
Will Market See More Bid-Rigging Cases in 2013?
by: Jonathan Hemmerdinger
Wednesday, January 2, 2013

The most recent trial ended in August, when a jury reached guilty verdicts against former UBS bankers Peter Ghavami, Michael Welty and Gary Heinz. Prosecutors said the men acted as both GIC brokers and providers, manipulating bidding on at least a dozen agreements to increase the number and profitability of the agreements awarded to UBS. They also submitted intentionally losing bids and arranged for UBS to receive kickbacks in exchange for manipulating bidding.

Get access to this article and thousands more...

All On Wall Street articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

2014 Summer Reading List for Advisors

Current Issue

The June Issue is now online!


Industry Events

August 10, 2014 |

September 9, 2014 |

September 17, 2014 |

September 20, 2014 |

September 28, 2014 |

Already a subscriber? Log in here