Making
an agreement to limit competition violates the Sherman Antitrust Act
The
bid rigging case in Northern California continues.
According
to the United States Department of Justice, a Burlingame California
real estate investor recently entered a plea of guilty for rigging bids, which
included charges of using the U.S. Mail to carry out the scheme, in Foreclosure
Real Estate Auctions in San Mateo County and San Francisco County, California,
between January and December of 2010.
Gilbert
Chung is now the 27th person to enter a guilty plea as a result of a
Department of Justice investigation.
Chung and his other co-conspirators face 10 years in federal prison and
$1 million in fines for violating the Sherman Antitrust Act, and up to 30 years
and an additional $1 million fine for each count of conspiring to commit mail fraud.
No comments:
Post a Comment