RE Investor Cops To Bid-Rigging In Foreclosure Auctions

Law360, New York (October 23, 2013, 6:41 PM EDT) -- A Georgia real estate investor and his company agreed to pay $197,600 in restitution after pleading guilty on Tuesday to allegations that they participated in a conspiracy to rig the bidding process during auctions of foreclosed properties, the U.S. Department of Justice said.

Seth D. Lynn, a DeKalb County real estate agent and the owner of Penguin Properties LLC, admitted in federal court in Atlanta to his role in plots to restrain competition among bidders during auctions, thereby enabling the conspirators to buy real estate in...
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