The tale of the tape continued Wednesday in the municipal bond bid-rigging trial in Manhattan, as prosecutors, interspersing audio tapes and transcripts with bid documents, called to the stand another former employee of brokerage CDR Financial Services, seeking to establish a pattern of fraud by three former executives of General Electric Co. subsidiaries.

Continuing direct testimony under U.S. Department of Justice prosecutor Kevin Hart that began Tuesday afternoon, Daniel Naeh, who acted as a bidding agent for CDR, explained how he helped rig bids for municipal bond contracts in New Jersey, Missouri and Colorado, among other states.

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.