Ongoing probe of bid rigging at foreclosure auctions yields 40 guilty pleas

Two Californians — Florence Fung of Sacramento, and Michael Navone of San Rafael — are the 39th and 40th individuals to plead guilty or agree to plead guilty as a result of ongoing investigations into bid rigging and fraud at public real estate foreclosure auctions in San Francisco, San Mateo, Contra Costa and Alameda counties.

The investigations are being conducted by the U.S. Department of Justice’s Antitrust Division’s San Francisco office and the FBI’s San Francisco office. Source: