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.
In return, he or she will not sell to, or bid on contracts let by, customers allocated to the other competitors. In other schemes, competitors agree to sell only to customers in certain geographic areas and refuse to sell to, or quote intentionally high prices to, customers in geographic areas allocated to conspirator companies. [1]
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]
For premium support please call: 800-290-4726 more ways to reach us
The case involved the bid system for Aldi construction projects in southern Illinois and Missouri. Breese contractor and Aldi executive sentenced in bid-rigging and kickback scheme Skip to main ...
The ultimate victim of a real estate Ponzi scheme mastermind, who allegedly defrauded millions of dollars from his clients, could turn out to be his own wife of 38 years. The lesson for homeowners ...
On February 2, 2010, Deputy Mayor of Jersey City Leona Beldini, was convicted in Federal Court in Newark on 2 of 6 corruption related charges stemming from the FBI's Operation Bid Rig. The split verdict in Leona Beldini's case was hailed as a victory by both sides and may have cast doubt on the government's use of Solomon Dwek as an informant.
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 ...