A California real estate investor will spend 30 months in federal prison for antitrust violations. Federal prosecutors accused Michael Marr of conspiring to submit fraudulent bids at real estate foreclosure auctions.
According to prosecutors, Marr played a significant role in determining the outcome of real estate auctions. Through his process, he obtained ownership of hundreds of Northern California properties. Conspirators pre-selected winning bidders and arranged payoffs in exchange for not competing for properties.
Following a public foreclosure auction, the conspirators would hold private auctions to determine who ended up with the foreclosed property. Prosecutors accused Marr of sending several employees to submit phony bids. In a foreclosure action, the auction proceeds pay off debts on the property, and the foreclosed owner keeps any remainder. The scheme hurt hundreds of property owners in Northern California by keeping property prices artificially low.
Marr will spend 30 months in a federal prison, and will complete three years of supervised release afterward. In addition, the judge ordered Marr to pay a fine of nearly $1.4M. The Department of Justice Antitrust Division investigated the case. A federal grand jury issued an indictment against Marr in November 2014. His trial took place last year, and resulted in a conviction in June 2017.
California Antitrust Attorney
When you face criminal antitrust charges, hire an experienced criminal antitrust attorney like Robert Helfend. Mr. Helfend has more than 3 decades of practice experience. He takes cases in all federal circuits in the United States.
Criminal antitrust actions can include price-fixing, bid-rigging and market allocation schemes. Antitrust actions can include civil proceedings, but they can also include criminal charges against individuals. When you face criminal charges, your best strategy involves hiring an experienced criminal defense attorney.
Federal prosecutors have a high conviction rate, but that doesn’t mean there’s nothing you can do to defend yourself. Work with an experienced defense attorney whose mission is to fight aggressively for his clients.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County antitrust case.
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