A San Mateo man has agreed to plead guilty for his role in bid rigging and fraud conspiracies at public real estate foreclosure auctions, the U.S. Department of Justice announced Thursday.
Felony charges were filed against Ramin Yeganeh, 48, in an ongoing investigation that has led to charges being filed against 72 individuals for bid rigging in Alameda, Contra Costa, San Mateo and San Francisco counties.
Yeganeh was also charged with conspiring to use the mail to carry out a scheme to fraudulently acquire title to selected Alameda County properties sold at public auctions.
The Department of Justice alleges Yeganeh made and received payoffs and diverted money to co-conspirators that would have otherwise gone to mortgage holders and other beneficiaries by holding second, private auctions open only to members of the conspiracy between May 2008 and October 2010.
Full Content: Imperial Valley News
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