Northern California Real Estate Investor Agrees to Plead Guilty in Foreclosure Auction Fraud Scheme


Investigations Have Yielded 52 Plea Agreements and Five Indictments Against 20 Real Estate Investors to Date

(Source: USDOJ) WASHINGTON — A Northern California real estate investor has agreed to plead guilty for his role in bid rigging and fraud conspiracies at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

Felony charges were filed today in the U.S. District Court of the Northern District of California in Oakland against Ramin Yeganeh of San Mateo, California. To date, 52 individuals have pleaded guilty or agreed to plead guilty to criminal charges as a result of the department’s ongoing antitrust investigations into bid rigging and fraud at public foreclosure auctions in Northern California. In addition, 20 other real estate investors have been charged in five multi-count indictments for their roles in bid rigging and fraud schemes at foreclosure auctions in Alameda, Contra Costa, San Mateo and San Francisco counties.

“Our Northern California real estate investigations have yielded more pleas than any other Antitrust Division matter in recent memory, but our work is not done,” said Assistant Attorney General Bill Baer of the Justice Department’s Antitrust Division. “The sheer number of individuals involved in these conspiracies only emphasizes how critical it is that we remain committed to investigating and prosecuting those who have corrupted the public foreclosure auction process.”


Featured Posts
Recent Posts
Archive
Search By Tags
No tags yet.
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

© 2016 by Ching & Seto