Alabama real estate investors plead guilty to bid rigging conspiracy in connection with public foreclosure auctions | Practical Law

Alabama real estate investors plead guilty to bid rigging conspiracy in connection with public foreclosure auctions | Practical Law

On 15 September 2011, the US Department of Justice (DOJ) announced that real estate investors Allen French and Harold Buchman, and real estate investment company M&B Builders LLC, had pleaded guilty to felony charges that they had violated the Sherman Act by participating in a conspiracy to rig bids in public auctions for foreclosed real estate in southern Alabama. This investigation is part of a larger ongoing effort by the DOJ Antitrust Division and FBI to identify anti-competitive conspiracies that target public real estate foreclosure auctions.

Alabama real estate investors plead guilty to bid rigging conspiracy in connection with public foreclosure auctions

by Practical Law
Law stated as at 15 Sep 2011 • USA (National/Federal)
On 15 September 2011, the US Department of Justice (DOJ) announced that real estate investors Allen French and Harold Buchman, and real estate investment company M&B Builders LLC, had pleaded guilty to felony charges that they had violated the Sherman Act by participating in a conspiracy to rig bids in public auctions for foreclosed real estate in southern Alabama. This investigation is part of a larger ongoing effort by the DOJ Antitrust Division and FBI to identify anti-competitive conspiracies that target public real estate foreclosure auctions.