A PYMNTS Company

US: Head of heir location firm to plead guilty in antitrust case

By  |  January 14, 2016

The owner of a company that tracks down heirs entitled to an inheritance has agreed to plead guilty to a federal antitrust violation.

The Justice Department on Thursday announced a plea deal with Richard A. Blake Jr. in federal court in Chicago.

Federal prosecutors say Blake, who runs a Massachusetts company, has agreed to cooperate with an ongoing investigation. A sentence will be determined later.

Justice Department officials have been investigating anti-competitive practices among heir location firms, which identify heirs who may be entitled to an inheritance after someone dies without a will.

Prosecutors last month announced charges against a California company involved in the same business.

Online court records don’t list a lawyer for Blake, and a phone message left at his business was not immediately returned.

Full content: KTVN

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