Foreclosure Auction Bid-Rigging Probe Nets 10th Plea

Law360, New York (February 24, 2012, 6:20 PM EST) -- A real estate investor pled guilty Friday to taking part in a scheme to rig bids at public foreclosure auctions, becoming the 10th person to cop a plea in California federal court in connection with an ongoing federal antitrust probe, the U.S. Department of Justice said.

Wiley Chandler pled guilty to bid rigging, in violation of the Sherman Act, as well as conspiracy to commit mail fraud, the DOJ said, adding that the Sherman Act violation comes with a possible maximum 10-year sentence, while the fraud...
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