Georgia Real Estate Investor Pleads Guilty to Bid Rigging and Bank Fraud at Public Home Foreclosure Auctions

A Georgia real estate investor pleaded guilty today for his role in bid-rigging and fraud conspiracies committed at public real estate foreclosure auctions in Georgia, the Department of Justice announced. James R. Patterson Jr. admitted that he agreed with other real estate investors to rig auctions of foreclosed homes in Gwinnett County from May 2007 until at least November 2011.


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