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

 |  December 13, 2012

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.

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