Bloomberg -- Ex-UBS AG Managing Director Peter Ghavami and two former colleagues convicted of rigging municipal bond investment deals may be sentenced to less prison time than the government is seeking, a federal judge said.

U.S. District Judge Kimba Wood told prosecutors in Manhattan that she may reject their proposed calculations for losses from the scheme, an important factor in determining the sentencing range. Wood said her decision is tentative and may change before the defendants are sentenced today.

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