CDR Financial Products Inc. founder David Rubin, who pleaded guilty in a municipal bond bid-rigging scheme, is seeking house arrest or community service instead of the more than 19 years in prison recommended by U.S. officials, according to court papers.
Ex-New York Comptroller Alan Hevesi shouldn’t be sentenced by the judge who accepted his guilty plea for corruption involving the state pension fund because of a conflict of interest, Hevesi’s lawyer said in court.
Former New York state comptroller Alan Hevesi asked the judge who accepted his guilty plea to recuse himself, saying he hid a conflict of interest so he could preside over a newsworthy corruption case.
The judge who accepted the guilty plea of former New York Comptroller Alan G. Hevesi will transfer the pension-fund corruption case to another judge for sentencing, after refusing to withdraw because of an alleged conflict of interest.
U.S. investigators conducting a criminal probe of interest-rate manipulation have asked their British counterparts for permission to interview London traders, two people familiar with the investigation said.
Six former HSH Nordbank AG executives were charged with breach of trust and accounting crimes over their role in collateralized-debt obligations that led to writedowns of 500 million euros ($647 million) in 2008.
CDR Financial Products Inc. and its founder, David Rubin, pleaded guilty less than a week before trial on charges tied to a federal investigation of bid- and auction-rigging in the municipal bond market.
Daniel Mudd, the former chief executive officer of Fannie Mae, and Richard Syron, ex-CEO of Freddie Mac, were sued by the U.S. Securities and Exchange Commission for understating by hundreds of billions of dollars the subprime loans held by the firms.