Ex-UBS Muni Derivative Desk Head Sentenced to 18 Months

Former UBS AG executive Peter Ghavami was sentenced to 18 months in prison for rigging what should have been competitive bids to handle municipal-bond investment deals.

Ghavami was sentenced today by U.S. District Judge Kimba Wood in Manhattan for conspiracy and wire fraud. Two of his former colleagues also convicted in the case, Gary Heinz and Michael Welty, are also set to be sentenced Wednesday.

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