From the Wall St Journal: Wells Fargo & Co. has agreed to pay $148 million to settle charges that its Wachovia Bank unit participated in a conspiracy that rigged bids on investment contracts for municipalities, federal and state authorities said Thursday.
The Justice Department, Securities and Exchange Commission and state authorities said former Wachovia employees, working in conjunction with others, rigged the bidding process for government entities that were seeking to invest money they raised through municipal bonds. Governments typically need to invest bond proceeds in the short term until they are ready to spend the money …
Read more at http://online.wsj.com/article/SB10001424052970203501304577086343841198990.html?mod=WSJ_hp_LEFTWhatsNewsCollection
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