By Melissa Lipman (April 25, 2013, 4:32 PM EDT) -- A New Jersey investor admitted Thursday to participating in a plot to rig bids for tax liens auctioned by municipalities within the state, the U.S. Department of Justice said, making him the 12th defendant to plead guilty in connection with the bid-rigging conspiracy.
Barnegat, N.J.-based Norman T. Remick acknowledged submitting bids in line with agreements to divvy up the liens with other bidders, according to the DOJ.
"The conspirators illegally met and engaged in anticompetitive discussions to allocate bids amongst themselves at tax lien auctions in New Jersey, depriving distressed homeowners of competitive interest rates at a time when they most...
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