Obstruction Charge Tacked Onto Investor's Bid-Rigging Rap

Law360, New York (May 8, 2013, 9:27 PM EDT) -- The U.S. Department of Justice on Wednesday said a grand jury has added an obstruction of justice charge to a bid-rigging case against a California real estate investor, for allegedly destroying electronic records after authorities subpoenaed his bank account records.

Prosecutors say that after Andrew B. Katakis, of Danville, Calif., received the subpoena, he deleted and caused others to delete electronic records and documents related to a conspiracy to rig bids and commit fraud at public auctions for foreclosed real estate.

Katakis even went as far...
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