Real Estate Investor Gets 6 Months For Auction Bid-Rigging

Law360, New York (April 20, 2012, 6:17 PM EDT) -- A real estate investor was sentenced to six months behind bars after admitting to his role in bid-rigging and mail fraud conspiracies at public foreclosure auctions in southern Alabama, the U.S. Department of Justice said Friday.

Lawrence B. Stacy of Mobile, Ala., was charged with one count of one count of conspiracy to commit mail fraud and one count of bid-rigging, according to the DOJ.

Stacy agreed to serve six months in prison, pay a $10,000 fine and cooperate with the DOJ’s investigation, according to the...
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