WASHINGTON — A second former employee of CDR Financial Products Inc., Matthew Adam Rothman, has pleaded guilty to participating in bid-rigging and fraud conspiracies with other firms that provided investment agreements to states and localities, the Justice Department announced late Thursday.

The guilty plea comes about two weeks after Daniel Naeh, a former employee living in Israel, pleaded guilty for his participation in the same scheme that led to the department’s more than four-year investigation into bid-rigging and anticompetitive behavior in the muni market.

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.