WASHINGTON — Phillip D. Murphy, a former manager of municipal derivatives products at Banc of America Securities LLC, now Bank of America Merrill Lynch, was indicted by a federal grand jury on three counts of conspiracy and wire fraud in connection with a fraudulent scheme to rig bids for municipal-bond related investment agreements.
His indictment on two counts of conspiracy and one count of fraud was announced on Friday by the U.S. Department of Justice, just one day after the DOJ disclosed that former JPMorgan Chase & Co. banker Alexander Wright had pleaded guilty to conspiring to commit wire fraud in connection with bid-rigging.
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