Ex-BofA Executive Avoids Jail for Muni Bond Bid-Rigging
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A former Bank of America Corp. senior vice president, who cooperated with prosecutors probing a conspiracy to rig bids in the $3.7 trillion municipal bond market, won’t go to jail for his role in the scheme.
Douglas Campbell, who faced as long as 35 years in prison, was ordered to pay $300 and received no other penalty at his sentencing today before U.S. District Judge Kimba Wood in Manhattan, the Justice Department said. Testimony by Campbell helped secure convictions of others in the scheme, including three ex-UBS AG employees found guilty following a 2012 trial.