Glenn Guillory, Rigging Bids, California 2011

State: California
Category: White Collar Crime
Source: <a href="https://www.justice.gov/archives/opa/pr/northern-california-real-estate-investor-convicted-rigging-bids-public-foreclosure-auctions" style="color:#cc0000;" target="_blank" rel="nofollow noopener">DOJ Press Release ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â€

A federal jury has convicted a Northern California real estate investor for his role in a conspiracy to rig bids at public foreclosure auctions held in Contra Costa County, California.

Glenn Guillory, a real estate investor, was convicted of conspiring to rig bids at foreclosure auctions in a conspiracy that operated from as early as June 2008 until about January 2011, according to a federal jury verdict.

The evidence at trial showed that Guillory and his co-conspirators agreed not to compete for real estate sold at foreclosure auctions in Contra Costa County. The conspirators negotiated payoffs for agreeing not to compete and held second, private auctions known as “rounds” to determine the amounts of the payoffs for the individuals who had participated in the bid suppression.

Guillory was charged in an indictment returned by a federal grand jury in the Northern District of California on Dec. 3, 2014. The indictment accused Guillory and his co-conspirators of rigging bids at foreclosure auctions in Alameda, Contra Costa, San Francisco, and San Mateo counties.

Including Guillory’s conviction, 65 individuals have either pleaded guilty or been convicted after trial as a result of the ongoing antitrust investigations into bid-rigging at public foreclosure auctions in Northern California.

Indictments are pending against several other real estate investors who participated in the conspiracy. The investigation is being conducted by the Antitrust Division’s San Francisco Office and the FBI’s San Francisco Office.

If you have any information concerning bid rigging or fraud related to real-estate foreclosure auctions, contact the Antitrust Division’s San Francisco Office at 415-934-5300 or call the FBI tip line at 415-553-7400.

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