Federal appeals court upholds former UBS Executives' Convictions for Municipal Finance Rigging

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 Today, the Second Circuit court of appeals affirmed the convictions of three former UBS AG executives for their role in an orchestrated scheme to manipulate municipal bond deals. In so doing, the federal court endorsed the government’s expansive use of a decades-old bank fraud law that carries a expansive statute of limitations.

Ex-UBS executives Peter Ghavami, Gary Heinz and Michael Welty were convicted in The Sumer of 2013 for manipulating the bidding for investment deals and municipal financing contracts. The ruling marked a significant victory for federal prosecutors.
The experienced securities fraud attorneys at Colling Gilbert Wright & Carter have litigated and resolved dozens of UBS related investor claims. If you lost money in a Lehman Brothers investment, contact our office for a free case evaluation.