Search results
Results From The WOW.Com Content Network
Bid rigging is a fraudulent scheme in a procurement action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of collusion , or by officials and firms acting together.
The list includes several publicly listed companies, including Balfour Beatty, Kier Group and Carillion, with 80 of the firms have already admitted participating in some form of bid-rigging, or have applied for leniency in return for assisting the OFT. The allegations centre around "cover pricing", in which firms secretly agreed the prices they ...
According to Adam Smith, people of the same trade seldom meet without the conversation turning to conspiring ways to raise prices and defraud the public. [citation needed] Market allocation is generally regarded as illegal in the United States, unless the Department of Treasury or equivalent body authorizes it.
Attorney General Keith Ellison filed a lawsuit Tuesday accusing a Twin Cities real estate broker of preying on Muslims and buyers with poor credit ratings with illegal and deceptive contracts for ...
For premium support please call: 800-290-4726 more ways to reach us
A Queens tow truck operator who was indicted alongside ex-Buildings Department boss Eric Ulrich this summer has pleaded guilty to charges stemming from a 2018 case involving a city contract ...
The Agape securities they peddled were actually non-existent, and investors were merely lured into a Ponzi scheme where earlier investors were paid with new investor funds. Also in June 2012, the SEC took emergency action to halt a real estate-based Ponzi scheme that defrauded more than 600 investors nationwide of $100 million. [91]
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.