3 Investors Cop To Bid Rigging Foreclosure Auctions

Law360, Los Angeles (February 9, 2012, 7:58 PM EST) -- Three California real estate investors agreed to plead guilty on Thursday to charges stemming from their involvement in a conspiracy in which the men cut a deal not to bid against each other at real estate foreclosure auctions.

Barry Heisner of Brentwood, Calif., Dominic Leung of Alameda, Calif., and Hilton Wong of San Ramon, Calif., copped to charges of conspiring to rig bids and commit mail fraud in connection with the scheme, which was aimed at suppressing competition and winning real estate at noncompetitive prices, the...
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