Investor Pleads Guilty In Ala. Foreclosure Auction Inquiry

Law360, Los Angeles (September 16, 2013, 10:00 PM EDT) -- A former investor in Alabama's real estate foreclosure auctions industry on Monday pled guilty to misleading authorities about his involvement in bid-rigging and other fraudulent schemes within the industry, according to the U.S. Department of Justice and court documents. 

Ali Forouzan, of Mobile, Ala., pled guilty to one count of making false statements to law enforcement before U.S. District Judge Callie Granade, court records said. Prosecutors have said Forouzan lied to agents with the DOJ's Antitrust Division and the FBI about his participation in anti-competitive practices...
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