CDR Official David Rubin to Plead Guilty, U.S. Court Clerk Says

Dec. 30 (Bloomberg) -- 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.

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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