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$90M SETTLEMENT REACHED IN BID-RIGGING WITH BOND INVESTMENTS

May 31, 2011

Acting Attorney General Bill Ryan recently announced a $90.8 million multi-state settlement with Union Bank of Switzerland (UBS) as part of an ongoing national investigation into bid-rigging and fraudulent conduct that victimized state agencies, municipalities, school districts and non-profit organizations who were seeking to invest or protect the proceeds of tax exempt bonds.



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