Ex-JPMorgan Employee Says He Gave Bid Details to Ghavami
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A former JPMorgan Chase & Co. employee told jurors that he exchanged details about municipal finance deal bids with Peter Ghavami, the former co-head of UBS AG’s municipal derivatives group, ahead of deadlines for the companies to submit competing proposals.
Jim Hertz said today that he shared information on bids in 2001 and 2002 with Ghavami, who is on trial in a Manhattan federal court along with two former colleagues for allegedly rigging bids for investing proceeds of municipal bond sales.