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Bid-rigging trial for three former GE bankers under way

By  |  April 17, 2012

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    A bid-rigging federal jury trial has started in Manhattan court. The DOJ alleges that three former General Electric bankers manipulated auctions for municipal bonds from August 1999 to November 2006. Former CDR employee Douglas Goldberg–who has already pleaded guilty and is cooperating with the DOJ’s prosecution–testified that he helped one of the GE bankers rig bids on several occasions. Goldberg allowed the banker to review other bids and to reduce his bid.

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