BOISE, Idaho — Idaho is expected to get more than $34 million as part of a settlement in an illegal bonds derivative scheme.
Attorney General Lawrence Wasden announced the deal Friday reached with GE Funding Capital Marketing Services.
The multistate settlement is the result of a nationwide investigation into anticompetitive and fraudulent conduct of the municipal bond derivatives industry.
Derivatives are contracts that state and local governments can use to reinvest the money from bond sales or against the risk of changing interest rates.
— Associated Press