FBI Investigates Foreclosure Auction Bid-Rigging

Law360, New York (January 21, 2011, 7:33 PM EST) -- The FBI is investigating whether certain San Francisco-area real estate agents have conspired to rig bids at public real estate foreclosure auctions, a bureau spokeswoman confirmed Friday.

Julie Sohn said the San Francisco field office of the FBI conducted interviews and executed search warrants last Tuesday throughout the Bay Area.

“This is part of a long-term investigation of anti-competitive practices at trustee sales of foreclosed homes,” Sohn said.

She declined to comment further, except to say that people with information on these illegal activities should contact...
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