Feds Snare Real Estate Investor for Auction Fraud in Georgia

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HousingWire is reporting that a real estate investor in Georgia recently pleaded guilty to conspiring to rig bids at foreclosure auctions in two Atlanta-area counties.  According to US Department of Justice the individual admitted conspiring with other real estate investors regarding bids in public foreclosure auctions.

“After the foreclosure auctions closed, the individual and his co-conspirators would then hold private auctions amongst themselves for the targeted properties.”

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Director of Education & Outreach, National Real Estate Investors Association

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