Real Estate/Development
Oct. 29, 2011
Real estate investors plead guilty to rigging auctions
Eight real estate investors will plead guilty to charges stemming from their schemes to game foreclosure auctions in Northern California, the U.S. Justice Department announced Thursday.
Daily Journal Staff Writer
WASHINGTON - Eight real estate investors have agreed to plead guilty to charges stemming from their schemes to game auctions on foreclosed properties in Northern California, the U.S. Justice Department announced Thursday.
The investors are accused of deciding beforehand who would win the auctions for selected properties in order to keep the price down, according to court documents. In some instances...
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