United States v. Ghavami

OPINION & ORDER

KIMBA M. WOOD, District Judge:

After a month-long trial, Defendants Peter Ghavami (“Ghavami”), Gary Heinz (“Heinz”), and Michael Welty (‘Welty”) (collectively, “Defendants”) were convicted of conspiracies to defraud municipal bond issuers, the .United States Department of Treasury, and the Internal Revenue Service, by manipulating the bidding process for municipal bond investment products and other municipal finance products, in violation of 18 U.S.C. §§ 371 and 1349. Heinz and Ghavami were also convicted of substantive wire fraud, in violation of 18 U.S.C. § 1343.

Welty now…