NEW YORK: Three former UBS AG bankers were sentenced to prison on Wednesday for deceiving U.S. municipalities by rigging bids to invest municipal bond proceeds, with the longest sentence at 27 months, a fraction of what prosecutors had sought.
Gary Heinz, 40, a former bank vice president who was caught on recordings discussing the scheme, received the prison sentence of 27 months. U.S. District Judge Kimba Wood also ordered Heinz to pay a $400,000 fine.
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