Federal Investigation Of Bidding Patterns At Maryland Tax Sales Continues

The Baltimore Sun reports:

• Records turned over to a federal grand jury investigating municipal tax-sale auctions show that two of Maryland's largest tax-sale investors didn't bid against each other for properties during the past four years in Montgomery County. Bidding lists were among documents demanded in the subpoena, which also sought any records from 2002 to 2007 that would show whether bidders communicated with one another about what properties they would bid on and prices they would pay, or about any inducement not to bid on certain properties or not bid at all. The subpoena is part of an investigation being coordinated by the Justice Department's antitrust division in Washington. It was issued on the same day in August that the FBI conducted simultaneous raids at two Baltimore County real estate offices, seeking evidence of restraint of trade in tax sales.

For more, see Probe of tax sale bids (Federal grand jury subpoenas records on bidding patterns).

For earlier story, see Probe targets tax-lien sales (U.S. agents raid 2 area businesses), or try here for prior post.