WASHINGTON - Two employees of Wachovia Bank NA in Charlotte, N.C., have been notified by the U.S. Justice Department that they are targets of a grand jury investigation regarding antitrust and other violations involving contracts related to municipal bonds, according to regulatory information obtained by The Bond Buyer.

The two employees - Jay Saunders and Martin McConnell - worked in the derivatives marketing department at the bank, but were put on administrative leave after receiving written notifications that they were targets of the grand jury investigation.

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