WASHINGTON — James Hertz, a former vice president and marketer in JPMorgan’s municipal derivatives group, pleaded guilty Tuesday to three criminal counts for engaging in bid-rigging and fraud conspiracies connected with guaranteed investment contracts and other municipal finance agreements, the Justice Department announced.
He is the eighth individual to plead guilty in the department’s ongoing investigation of anticompetitive behavior in the municipal derivatives and GIC markets. As part of the probe, a federal grand jury has indicted CDR Financial Products, three current and former officials at that Beverly Hills-based firm, and three former financial services executives.
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