A nine-count indictment, filed on Dec. 4 in U.S. District Court for the Northern District of California, accused five more real estate investors of bid rigging and fraud at foreclosure auctions in Northern California, the Department of Justice announced (U.S. v. Galloway, N.D. Cal.).
The indictment charges northern California real estate investors John Michael Galloway, Nicholas Diaz, Glenn Guillory, Thomas Joyce and Charles Rock for their roles in an alleged conspiracy to rig bids and a scheme to defraud mortgage holders and others.
Deputy Assistant Attorney General Brent Snyder, who directs the Antitrust Division’s criminal enforcement program, stated ...
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