David Butler, a New Jersey financial investor, has pleaded guilty to rigging bids at municipal tax lien auctions throughout New Jersey. DSBD, the company in which Butler was a partner, also pleaded guilty for its role in the conspiracy. From 2005 to February 2009, Butler and DSBD submitted bids and purchased tax liens according to agreed-upon bid arrangements.
As part of their plea arrangements, Butler and DSBD will cooperate with the DOJ’s ongoing investigation into municipal tax lien auctions. Their agreements mark the seventh and eighth pleas.
Full content: DOJ Press Release
Related content: Mexican Experience in Screens for Bid-Rigging (Carlos Mena-Labarthe, Comisión Federal de Competencia de Mexico)
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI