Cozen O’Connor: Investors Accused of Rigging Foreclosure Auctions Bought More Than 1,200 Properties

Investors Accused of Rigging Foreclosure Auctions Bought More Than 1,200 Properties

Monday, November 13, 2017

Jeffrey Gilbert, a member of Cozen O'Connor's Commercial Litigation department, was quoted in the Daily Business Review's article, "Investors Accused of Rigging Foreclosure Auctions Bought More Than 1,200 Properties." Three real estate investors accused of rigging bids in Palm Beach County won 1,363 properties, but walked away from 109 of the deals, forfeiting $427,000 in deposits. The three investors are accused of conspiring offline to cheat the online marketplace. as they gamed the system as millions of properties went into foreclosure across the nation during the last housing market collapse.  Jeffrey said that, "that is outrageous and unheard-of conduct and practice. That’s something that the online (auction) policies and procedures are designed to prevent.”

To read the full article, click here