US Bank, Others Sued Over Tax Lien Bid-Rigging Scam

Law360, New York (April 2, 2012, 9:44 PM EDT) -- A property owner on Thursday claimed in a putative class action that he and others like him had been duped in a price-fixing scam that U.S. Bank NA contrived with investment firms and individual investors to keep interest rates high at municipal tax lien auctions in New Jersey.

Between at least 2000 and 2009, the prospective lien buyers met and talked about manipulating the bidding process at lien auctions, according to the suit, which was filed in New Jersey federal court. In those meetings, they allegedly...
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Case Information

Case Title

CONTARINO v. M.D. SASS ASSOCIATES, INC. et al


Case Number

1:12-cv-01957

Court

New Jersey

Nature of Suit

Racketeer/Corrupt Organization

Judge

Noel L. Hillman

Date Filed

March 29, 2012

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