1. Guilty Pleas In Fraud Case Over Bonds.
- Subjects
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GUILTY pleas , *MUNICIPAL bonds , *FRAUD , *CONSPIRACIES , *CORRUPTION in business enterprises - Abstract
A politically connected financial firm and its founder pleaded guilty Friday to taking part in fraud and bid-rigging conspiracies related to the municipal bond business. The Justice Department said CDR Financial Products of Beverly Hills, Calif., and its owner, David Rubin, entered guilty pleas in federal court in Manhattan. The department said that they each acknowledged their roles in schemes intended to win contracts to invest the proceeds of municipal bonds issued by state, county and local governments. [ABSTRACT FROM AUTHOR]
- Published
- 2011