A PYMNTS Company

U.S.: Guilty bid-rigging pleas for home auctions

By  |  December 13, 2012
U.S.: Guilty bid-rigging pleas for home auctions

Two real estate investors in Alabama have pleaded guilty to bid-rigging in order to lower prices of residences at auction, according to the U.S. Department of Justice. Robert M. Brannon of Mississippi and Jason Brannon of Alabama are the two who pled guilty to the collusion. According to the DOJ, the conspirators held second auctions after initial biddings where potential buyers could place higher, winning bids.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Local 15

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.