Florida jury finds city of Miami liable in municipal bond case
MIAMI, Sept 14 (Reuters) - The city of Miami and its former budget director were found liable by a Florida jury on Wednesday for engaging in a financial shell game in a case brought by the U.S. Securities and Exchange Commission stemming from a municipal bond sale.
Taking less than a day to deliberate, the jury found the city of Miami and former budget director Michael Boudreaux violated the Federal Securities Act in the process of selling over $150 million worth of municipal debt in 2009.
(Reporting By Zachary Fagenson in Miami; Editing by Daniel Bases and Chris Reese)
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