Three former GE affiliate executives convicted of fraud

Three former executives of General Electric Co affiliates were convicted by a federal jury in New York of conspiracy charges related to bid-rigging contracts for the investment of municipal bonds, the ...

By Nate Raymond NEW YORK (Reuters) - A former chief executive of a financial firm who pleaded guilty to charges related to bid-rigging in the municipal bond market was sentenced to two years probation on Friday by a judge who cited his cooperation with U.S. investigators. Martin Kanefsky, who was the chief of the now-defunct Kane Capital Strategies Inc, pleaded guilty in April 2010 to fraud and conspiracy charges related to his role in manipulating bids by others from 1999 to 2006. Kanefsky is the only individual sentenced so far in a broad government investigation of the $3.7 trillion U.S.

NEW YORK (Reuters) - The you

NEW YORK (Reuters) - A former JPMorgan Chase & Co banker pleaded guilty on Wednesday to fraudulently rigging a municipal finance contract 10 years ago. Alexander Wright, 45, pleaded guilty in Manhattan federal court to one count of conspiracy to commit wire fraud for manipulating the bidding process for a June 2002 contract. The contract was tied to a $31 million bond offering for a New Jersey state healthcare facility. The plea is the latest in a broad government investigation of the $3.7 trillion U.S. ...

A major Michigan landowner is suing Chesapeake Energy Corp and Encana Corp, alleging that the two energy giants colluded to rig bids for oil and gas rights in 2010. Northstar Energy, which owns nearly 10,000 acres in Michigan’s Utica-Collingwood oil and gas shale formation, filed the lawsuit against Chesapeake and Canadian firm Encana in Michigan federal court Friday.

Just weeks after defending a deal to grant a 10-year lease extension of TTC newsstands and retail outlets without looking at alternative bids, commission chairwoman Karen Stintz now says she endorses a competitive bidding process to award the lucrative contract. Her endorsement comes after an independent report requested by the TTC recommended that the commission consider other proposals for the multi-million dollar deal to run Toronto’s subway newsstands.

NEW YORK (Reuters) - A California hedge fund manager who testified in his own defense at his insider trading trial, was convicted on Monday of securities fraud and conspiracy charges by a federal jury.