A PYMNTS Company

US: Judges release reasoning behind bid-rigging prison releases

By  |  December 12, 2013

A three-judge panel released its opinion this week regarding its decision to overturn bid-rigging convictions handed down to three former executives of General Electric, leading to the release of the men from prison last month.

As the defendants argued, the judges found that the statute of limitations had expired for the Justice Department to bring a case against them. The DOJ had argued that the executives retained interest payments well after the investment contract bids were rigged.

But the US Court of Appeals for the Second Circuit panel voted last month to overturn the convictions of the executives, Dominick Carollo, Steven Goldberg and Peter Grimm.

While the judges voted 2-1 to free the men from jail before Thanksgiving, the court only recently released its opinion.

Full Content: Bond Buyer

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.