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US: PA non-profits see compensation from financial bid-rigging settlement

By  |  January 30, 2013
US: PA non-profits see compensation from financial bid-rigging settlement

A press release offered by Pennsylvania Attorney General Kathleen Kane announced more than $8.6 million in restitution that is now being given out to various state municipalities and non-profits as part of a multi-state settlement for bid-rigging accusations towards major financial institutions. According to the charges, various institutions including JPMorgan Chase, Bank of America and Wachovia rigged bids and colluded concerning municipal derivative investment sales. A national investigation continues.

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