DOJ Nabs 2 More Investors In Tax-Lien Bid Rigging Plot

Law360, Washington (September 30, 2013, 5:38 PM ET) -- Two New Jersey investors pled guilty Monday to participating in a scheme to rig bids for tax liens auctioned by municipalities in the state, the U.S. Department of Justice said as they netted the 13th and 14th guilty pleas in the conspiracy.

Robert U. Del Vecchio Sr. and Michael Mastellone both admitted to playing a role in the plot where investors bid on specific liens based on agreements within the group, a violation of the Sherman Act. Prosecutors say the plot was designed to limit competition...
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