US: Real estate investors plead guilty to bid rigging

On Thursday two real estate investors pleaded guilty today for their roles in a conspiracy to rig bids at public real estate foreclosure auctions in Mississippi, the Department of Justice announced.

“Shannon and Jason Boykin are the first two defendants to plead guilty in the Antitrust Division’s active, ongoing investigation into anticompetitive behavior at real estate foreclosure auctions in Mississippi,” said Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division. “In the past few years, the Division has secured convictions of over 100 individuals around the country. The Division remains committed to rooting out anticompetitive conduct at foreclosure auctions.”

Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division said Shannon and Jason Boykin are the first two defendants to plead guilty in an ongoing investigation into anti-competitive behavior at real estate foreclosure auctions in Mississippi.

Felony charges against Shannon Boykin and Jason Boykin were filed on February 1, 2018, in the U.S. District Court for the Southern District of Mississippi. According to court documents, from at least as early May 22, 2012, through at least as late as March 22, 2017, Jason and Shannon Boykin conspired with others to rig bids, designating a winning bidder to obtain selected properties at public real estate foreclosure auctions in the Southern District of Mississippi. Co-conspirators made and received payoffs in exchange for their agreement not to bid.

Full Content: Department of Justice

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