Bid Rigging Scheme in Foreclosure Auctions

Posted on July 5, 2011

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Eight people have been charged with a big-rigging scheme by the Department of Justice. The group agreed among themselves not to bid against each other at foreclosure auctions. This agreement was a violation of anti-trust statutes, according to Christine Varney, the Assistant Chief of the Anti-Trusr Division.

Department of Justice press release is here.

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