WASHINGTON — The Justice Department on Thursday filed a six-count indictment against three former UBS bankers — Peter Ghavami, Gary Heinz and Michael Welty — for participating in fraud schemes and conspiracies in connection with the bidding of investment and other contracts for municipal bonds from as early as 2001 until 2006.

The three were charged with one count of conspiracy, two counts of conspiracy to commit wire fraud, and two counts of wire fraud. Heinz was also charged with witness-tampering. After he learned of the government’s antitrust probe of the muni market in November 2006, he allegedly told another individual, among other things, to meet with a second person to coordinate stories about a rigged deal, the department said.

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.