A federal court in New York delayed the sentencing of former UBS banker Mark Zaino for his role in rigging municipal bond contracts.
U.S. District Court Judge Kimba Wood rescheduled the hearing to 11 a.m. Dec. 12 at the Daniel Patrick Moynihan Courthouse in lower Manhattan. His sentencing has been delayed many times, most recently from Oct. 24.
Zaino, who worked at the UBS bond desk in New York, pleaded guilty in May 2010 to one count each of conspiracy to restrain trade, conspiracy and wire fraud, in relation to a scheme to rig bids for municipal bond investment contracts, often offering "last looks" at competitors' bids.
He had faced a maximum of 35 years in prison and more than $1 million in fines.
After his plea, Zaino became a cooperating witness in trials against other bid-riggers that the government convicted.
