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Former BOA exec connected to expansive bid-rigging

By  |  July 22, 2012

The U.S. Department of Justice announced that former Bank of America Corp executive Phillip D. Murphy has been charged for participating in bid-rigging. Indicted at the U.S. District Court in Charlotte, N.C. for two counts of conspiracy and one count of wire fraud, Murphy is accused of rigging bids on contracts issued by state and local governments paying with municipal bond proceeds for a period between 1998 and 2006. Murphy worked in Bank of America’s securities unit from 1998 to 2002.

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    Full content: Reuters

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