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Mississippi real estate investors plead guilty to scheme to rig public foreclosure auctions

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More Gulf Coast real estate investors have pleaded guilty to a scheme to rig bids at foreclosure auctions.

Kevin Moore, Chad Nichols and Terry Tolar pleaded guilty Tuesday in federal court in Gulfport for their roles in a conspiracy to rig bids at public real estate foreclosure auctions in Mississippi, the U.S.Department of Justice has announced. 

A foreclosure sign

The guilty pleas by the three bring the number of real estate investors who have pleaded guilty to five in the last two months.

In February, brothers Jason Boykin and Shannon Boykin also pleaded guilty for their role in conspiring with others to rig bids, designating a winning bidder to obtain selected properties at public real estate foreclosure auctions. Co-conspirators made and received payoffs in exchange for their agreement not to bid, the Justice Department said.  



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