All across California, foreclosure auctions are happening on the steps of courthouses. Now the FBI is investigating whether or not the deals are legit. "Last week, the FBI conducted interviews and executed search warrants through the entire Bay Area as part of a long-term investigation of anti-competitive practices at trustee sales of foreclosed homes," said bureau spokeswoman Julie Sohn. Apparently groups of bidders purposely refrain from bidding, so that the sale is less than it would normally be. Later and behind closed doors, they discuss who should get the property. Tsk, tsk. [SF Gate]
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