CDR Financial’s David Rubin Pleads Guilty in Municipal Bid Rigging Case

CDR Financial Products Inc.’s David Rubin is set to plead guilty today in Manhattan federal court, a court clerk said.

Rubin, the founder of Beverly Hills, California-based CDR, and two other employees are charged along with the company as part of an investigation into bid- and auction-rigging in the municipal bond market. Rubin, the firm’s former chief financial officer, took kickbacks for running sham auctions for the investments, prosecutors said. All pleaded not guilty.

To contact the reporter on this story: Bob Van Voris in New York at rvanvoris@bloomberg.net

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net

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