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The last two of nine real estate investors were sentenced Thursday to four months each in prison after admitting they conspired to rig bids at public foreclosure auctions in South Missisisppi.
Judge Louis Guirola Jr. also ordered the investors, Christopher Vaughan, 53, of Ocean Springs and Jon Gregg Goodhart Jr.,50, of Biloxi to pay fines of $20,000 each, a news release from the U.S. Justice Department says.
Guirola previously sentenced Jason Boykin, Shannon Boykin, Kimberly Foster, Kevin Moore, Chad Nichols, Ivan Spinner and Terry Tolar in the case, prosecuted by the Justice Department’s Antitrust Division.
Between 2009 and 2017, the investors decided who would bid on the property. Those who sat out the bids were paid off.
“Those who subvert the competitive process will be held accountable and violations of the nation’s antitrust laws will be taken seriously,” Assistant Attorney General Makan Delrahim of the Antitrust Division said in a news release.
“The division has prosecuted more than 100 individuals across the country for bid rigging at real estate foreclosure auctions, and we will continue our efforts to prosecute and deter this conduct.”