Suit Claims Billionaire Rigged Building Auction

Law360, New York (July 12, 2006, 12:00 AM EDT) -- A group controlled by billionaire investor George Soros orchestrated a bid-rigging scheme to win the auction for the General Motors Building, according to a $750 million lawsuit filed by a rival investment group.

Leslie Dick Worldwide Ltd. has filed a suit in Manhattan Supreme Court accusing Macklowe Properties Inc. of fixing the auction of the General Motors Building so that Dick’s $1.5 billion offer for the property was ignored.

Macklowe won the auction with a $1.4 billion offer, which at the time was the most money...
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