State and local governments often sell tax-exempt municipal bonds to investment bank underwriters that then sell parts of those bonds to investors.  When the state or local governments sell these bonds, they either let multiple investment banks enter bids, or privately negotiate with a chosen bank.  These bonds are often highly profitable for the investment banks, and therefore employees are sometimes tempted to pressure politicians to grant them the bond.  Whether it is through rigging the bidding system fraudulently, paying kickbacks to politicians, or otherwise “paying to play,” false statements made to governments to receive a municipal bond can be a violation of state FCA laws.