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2nd Fla. Investor Cops To Online Foreclosure Auction Scheme

Law360 (August 9, 2018, 7:09 PM EDT) -- The second co-founder of a Palm Beach, Florida-based real estate investment firm pled guilty to a felony antitrust charge in federal court Thursday for his part in what authorities say was a $16 million scheme to rig bids in online home foreclosure auctions. 

Christopher Graeve copped to participating in a scheme in which he and officers of various Florida corporations met secretly to decide who would win bids in public online auctions on homes foreclosed on in the wake of the housing bust and recession of 2008. He was a co-founder and top executive of Prodigy Capital Inc., according to the company’s...

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