SEC Seeks Testimony From Birmingham Mayor On Bond Deals

By: Associated Press | Alabama's13.com
Published: December 18, 2007

BIRMINGHAM, Ala. (AP) - Federal investigators are trying to force Birmingham Mayor Larry Langford to give sworn testimony about Jefferson County bond deals.

The Securities and Exchange Commission is investigating more than $5 (b) billion in bond deals that occurred while Langford was president of the Jefferson County Commission.

The agency wants sworn testimony from both Langford and Bill Blount, the head of a Montgomery investment firm. But court documents show that both men refused to testify before the SEC last week in Miami.

The government is asking a court to make Langford and Blount testify unless they provide justification for refusing to answer questions. That could include trying to avoid self-incrimination.

Court documents filed by the government say Langford was instrumental in selecting firms that would handle county bond underwritings and swap agreements. Blount's firm received several million dollars in fees handling bonds for the county while Langford was commission chairman.

An attorney for Langford says he is reviewing the government's request. Blount's attorneys say the government is overstepping its bounds in the investigation.

SEC Seeks Testimony From Birmingham Mayor On Bond Deals

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