Calif. RE Investors Convicted In Bid-Rigging Scheme

Law360, New York (March 12, 2014, 8:54 PM EDT) -- A California federal jury on Tuesday convicted two real estate investors of rigging bids in public real estate foreclosure auctions held in San Joaquin County, following a four-week trial in what has become a sprawling real estate fraud case in Northern California.

Andrew B. Katakis and Donald M. Parker were found guilty of conspiring to rig foreclosure auctions from at least September 2008 until at least October 2009, according to the U.S. Department of Justice. Both Katakis and Parker escaped a mail fraud conviction.

The jury...
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