November 2, 2009
WASHINGTON — A politically connected financial firm and two of its executives were indicted Thursday for what prosecutors say was a bid-rigging scheme in the municipal bond business.
The charges in the nine-count indictment filed Thursday in Manhattan federal court against CDR Financial Products Inc. are the first resulting from the Justice Department's probe of the mammoth municipal bonds industry. CDR, based in Beverly Hills, Calif., has also come under scrutiny for its ties to New Mexico Gov. Bill Richardson.
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