WASHINGTON — Three former bankers at GE Funding Capital Market Services, Inc., convicted of fraud and conspiracy for rigging municipal bond investment bids, were released from prison following a Nov. 26 decision by the U.S. Court of Appeals for the Second Circuit overturning their guilty verdicts.

A three-judge panel in New York issued the order reversing their May 2012 criminal conviction by a federal jury. Judge Victor Marrero, of the U.S. District Court for the Southern District of New York, ordered Dominick Carollo, Steven Goldberg, and Peter Grimm to be released from prison the following day before Thanksgiving.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.