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$10M Fine for Swag

It's tough being in the title insurance business, trying to keep those fickle realtors in line. So you throw some stuff their way. In the case of First American Title, that came to around $120K a month in trips, wine, cigars, free marketing software- just in San Bernadino County. Plus tickets to rock concerts. We can't imagine "realtors" going anywhere near a show as sweaty as Coachella, but who knows? Maybe they were really Michael Bolton tickets. First American settled the accusations of the California Department of Insurance with a fine of $10M late last month. It's illegal in California to give gifts to induce title insurance business. No word on who's going after the realtors who accepted First American's gifts over and above their cut of the six percent.
· Tickets to the game [Inman Blog]
· Coachella 2007 [Coachella]