Bid-Rigging and Collusion at Foreclosure Sales 

ALERT: It’s happening at foreclosure sales nationwide - bidders conspiring to buy property at below-market prices at the expense of lenders and homeowners. Bid-rigging is illegal. Don't get pulled in. Learn about bid-rigging and other practices to avoid, the consequences of using them, and what to do if you’re asked to take part in such a scheme.

As part of the services we provide our customers, The Judicial Sales Corporation (Judicial Sales) is hosting short educational programs to help you in your investing efforts. These events are free to attend and will be held in our downtown Chicago office and locations convenient to you.

This Outreach Program will alert investors to questionable and possibly illegal practices and behaviors to avoid at foreclosure sales.

There have been cases nationwide where investors try to game the system and reap benefits at the expense of financial institutions and homeowners. For example, Bidder A might refrain from bidding against Bidder B (often in exchange for payment from Bidder B) in order to enable Bidder B to obtain title to a property at a below-market price. This is a form of bid-rigging that is harmful and illegal.

Our guest speaker, Michael N. Loterstein, Assistant Chief, Chicago Office U.S. Dept. of Justice, Antitrust Division, will educate investors and give tips on relevant topics:

• Behavior and practices to avoid;
• Consequences of bid-rigging and collusion; and
• What to do if you are approached by someone who is attempting to establish a bid-rigging or other questionable scheme.

HOW TO RSVP

To join us for this informative program, Click RSVP Now! below. Space is limited, get your seat before we run out. Register today!

Questions? Contact Nancy Vallone, nvallone@atgf.com or 312.236.7253.

RSVP Now!