Long list of conspirators for interest rate fixing case
JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.
A government list of previously unidentified Âco- conspirators contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.Âs financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24.
The list is of people who have not been charged yet, it was accidentally included in a court proceeding by the defense lawyers of a former employee of CDR Financial Products Inc.
This is a very big kickback and market manipulation scheme. A lot of people at a lot of companies where involved in defrauding various government groups. CDR was at the center, they took kickbacks from the rest of the companies to rig the auctions so that interest rates where held down.
Jay
