5 Indicted For Bid-Rigging At Foreclosure Auctions

Law360, San Diego (December 13, 2011, 9:44 PM EST) -- Prosecutors have accused four real estate investors and one auctioneer of participating in a bid-rigging scheme to obtain foreclosed homes at public auctions in San Joaquin County, Calif., according to an indictment unsealed Tuesday in California federal court.

Prosecutors claim that Wiley C. Chandler, Andrew B. Katakis, Donald M. Parker and Anthony B. Joachim and auctioneer W. Theodore Longley conspired with others to rig bids and commit mail fraud when buying certain properties at foreclosure auctions. Longley is also accused of aiding and abetting the conspirators,...
To view the full article, register now.