Ge Will Pay States $30m to Settle Bond Probe

Summary

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General Electric Co. has agreed to pay $30 million in a settlement with New Jersey and 24 other states as part of an investigation of a alleged scheme involving municipal bonds.

The state Attorney General's Office announced the restitution, which comes with an additional $4.25 million for a civil penalty and fees, on Friday. The settlement with the states was part of a broader $70 million settlement with the U.S. Department of Justice, Internal Revenue Service and Securities and Exchange Commission.

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Ge Will Pay States $30m to Settle Bond Probe

It's unclear which New Jersey state agencies, municipalities or school districts might...

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