Archives For Bid Rigging

Trent Gaines, a Georgia real estate investor, pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia.  Gaines admitted that he and others conspired not to bid against one another at public real estate foreclosure auctions from October 2008 to November 2010 in Fulton County, Georgia, and from September 2006 to February 2011 in DeKalb County, Georgia. Gaines also admitted to conspiring with others to use the mail to carry out a scheme to fraudulently acquire title to selected Fulton and DeKalb properties sold at public auctions, to make and receive payoffs and to divert money to co-conspirators that should have gone to mortgage holders and others. The selected properties were then awarded to the conspirators who submitted the highest bids in private side auctions open only to Gaines and his co-conspirators. Continue Reading…

A Georgia real estate investor pleaded guilty today for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Fulton and DeKalb counties, Georgia.

Morris Podber, a Georgia real estate investor, pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Fulton and DeKalb counties, Georgia. Podber admitted that he conspired with others not to bid against one another at public real estate foreclosure auctions on selected properties. After the public foreclosure auctions, Podber admitted that he and his co-conspirators would divvy up the targeted properties in private side auctions, open only to the conspirators. Podber admitted to conspiring to use the mail to carry out their fraud, which included making and receiving payoffs and diverting money to co-conspirators that should have gone to the mortgage holders and others. Continue Reading…

Michael P. Barbour, a southern Alabama business man pled guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in southern Alabama.  Barbour admitted to conspiring to fraudulently acquire title to foreclosed properties at artificially low prices by agreeing with others not to bid against each other at public foreclosure auctions in southern Alabama.

According to documents filed with the court, from 2003 until 2010, Barbour conspired with other potential bidders for foreclosed properties to designate one person to bid at certain public foreclosure auctions.  Once the designated bidder won the property at the public auction, the conspirators held a secret, second auction open only to members of the conspiracy where they paid each other off.  As a result of these crimes, homeowners and banks received less than competitive prices for the properties.  Continue Reading…

John Shiells, Real Estate Investor,  Danville, California, and Miguel De Sanz, Real Estate Investor, San Francisco, California each pleaded guilty to three counts of bid rigging and three counts of mail fraud in the U.S. District Court of the Northern District of California in Oakland, California. Both were charged in an indictment returned by a federal grand jury in the Northern District of California on Nov. 19, 2014 in connection with their role in bid-rigging conspiracies and mail fraud at public real estate foreclosure auctions in Northern California. Continue Reading…

Ramin Rad “Ray” Yeganeh, real estate investor, San Mateo, California was indicted by a grand jury in the U.S. District Court of the Northern District of California in Oakland and charged with bid rigging and conspiracy to commit mail fraud in connection with public foreclosure auctions. Continue Reading…

David Wedean, a Georgia real estate investor, pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia.

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Eric Hulsman, a Georgia real estate investor, pleaded guilty to his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia.

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Mark Roemer and Bradley Roemer, two Northern California real estate investors, have agreed to plead guilty for their role in bid rigging and fraud conspiracies at public real estate foreclosure auctions in Northern California.

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Ramin Yeganeh, San Mateo, California, a real estate investor, has agreed to plead guilty for his role in bid rigging and fraud conspiracies at public real estate foreclosure auctions in Northern California.

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Charles Rock, a Northern California real estate investor, pleaded guilty for his role in bid rigging and fraud at public real estate foreclosure auctions in Northern California.

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