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A Forsyth County real estate investor convicted in June of rigging foreclosure auctions during the housing crisis was recently sentenced to 16 months in jail.

Douglas L. Purdy was sentenced by U.S. District Judge Richard W. Story for bid rigging conspiracy and two counts of conspiracy to commit bank fraud, according to court documents dated Dec. 21.

Between July 2008 and December 2011, Purdy and alleged co-conspirators entered into a plan to rig foreclosure auctions in Gainesville, Cumming and Alpharetta to “suppress and restrain competition,” according to Purdy’s February 2016 indictment.

The indictment stated Purdy and co-conspirators “agreed not to compete, or to stop competing, against each other on the purchase of selected properties,” that they “designated which conspirator would bid for selected properties,” and “purchased selected properties at public foreclosure auctions at prices they artificially suppressed.”  

A jury found Purdy guilty of entering into a conspiracy to commit bid rigging, according to court documents filed June 16, 2017.  

Purdy also was accused of six counts of bank fraud in the indictment for his alleged part in the sale of five properties in Gainesville, Cumming and Alpharetta.

A Forsyth County real estate investor convicted in June of rigging foreclosure auctions during the housing crisis was recently sentenced to 16 months in jail.

Douglas L. Purdy was sentenced by U.S. District Judge Richard W. Story for bid rigging conspiracy and two counts of conspiracy to commit bank fraud, according to court documents dated Dec. 21.

Between July 2008 and December 2011, Purdy and alleged co-conspirators entered into a plan to rig foreclosure auctions in Gainesville, Cumming and Alpharetta to “suppress and restrain competition,” according to Purdy’s February 2016 indictment.

The indictment stated Purdy and co-conspirators “agreed not to compete, or to stop competing, against each other on the purchase of selected properties,” that they “designated which conspirator would bid for selected properties,” and “purchased selected properties at public foreclosure auctions at prices they artificially suppressed.”  

A jury found Purdy guilty of entering into a conspiracy to commit bid rigging, according to court documents filed June 16, 2017.  

Purdy also was accused of six counts of bank fraud in the indictment for his alleged part in the sale of five properties in Gainesville, Cumming and Alpharetta.

Zillow is perfect for searching homes for sale in the United States. By analyzing real estate information on millions of homes for sale across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index.

Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

These properties are currently listed for sale. They are owned by a bank or a lender who took ownership through foreclosure proceedings. These are also known as bank-owned or real estate owned (REO).

Coming Soon listings are homes that will soon be on the market. The listing agent for these homes has added a Coming Soon note to alert buyers in advance. Learn more .

Properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS). They include pre-foreclosures, foreclosed homes and homes with a Make Me Move ® price. Most of these properties are only found on Zillow.

A Forsyth County real estate investor convicted in June of rigging foreclosure auctions during the housing crisis was recently sentenced to 16 months in jail.

Douglas L. Purdy was sentenced by U.S. District Judge Richard W. Story for bid rigging conspiracy and two counts of conspiracy to commit bank fraud, according to court documents dated Dec. 21.

Between July 2008 and December 2011, Purdy and alleged co-conspirators entered into a plan to rig foreclosure auctions in Gainesville, Cumming and Alpharetta to “suppress and restrain competition,” according to Purdy’s February 2016 indictment.

The indictment stated Purdy and co-conspirators “agreed not to compete, or to stop competing, against each other on the purchase of selected properties,” that they “designated which conspirator would bid for selected properties,” and “purchased selected properties at public foreclosure auctions at prices they artificially suppressed.”  

A jury found Purdy guilty of entering into a conspiracy to commit bid rigging, according to court documents filed June 16, 2017.  

Purdy also was accused of six counts of bank fraud in the indictment for his alleged part in the sale of five properties in Gainesville, Cumming and Alpharetta.

Zillow is perfect for searching homes for sale in the United States. By analyzing real estate information on millions of homes for sale across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index.

Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

These properties are currently listed for sale. They are owned by a bank or a lender who took ownership through foreclosure proceedings. These are also known as bank-owned or real estate owned (REO).

Coming Soon listings are homes that will soon be on the market. The listing agent for these homes has added a Coming Soon note to alert buyers in advance. Learn more .

Properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS). They include pre-foreclosures, foreclosed homes and homes with a Make Me Move ® price. Most of these properties are only found on Zillow.

Home Buyers Guide on help in buying your home. Home Sellers Guide on help in
selling your home. Foreclosed Homes Buyers helpful information.

Columbus OH Special Places and Events

April Central Ohio Real Estate
News Letter

Client Comments on Clifford Realtors Service

Columbus Ohio History

Columbus Restaurants: Fine, Casual and Family

Site Map
         
    Freddie Mac - Homestep s



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A Forsyth County real estate investor convicted in June of rigging foreclosure auctions during the housing crisis was recently sentenced to 16 months in jail.

Douglas L. Purdy was sentenced by U.S. District Judge Richard W. Story for bid rigging conspiracy and two counts of conspiracy to commit bank fraud, according to court documents dated Dec. 21.

Between July 2008 and December 2011, Purdy and alleged co-conspirators entered into a plan to rig foreclosure auctions in Gainesville, Cumming and Alpharetta to “suppress and restrain competition,” according to Purdy’s February 2016 indictment.

The indictment stated Purdy and co-conspirators “agreed not to compete, or to stop competing, against each other on the purchase of selected properties,” that they “designated which conspirator would bid for selected properties,” and “purchased selected properties at public foreclosure auctions at prices they artificially suppressed.”  

A jury found Purdy guilty of entering into a conspiracy to commit bid rigging, according to court documents filed June 16, 2017.  

Purdy also was accused of six counts of bank fraud in the indictment for his alleged part in the sale of five properties in Gainesville, Cumming and Alpharetta.

Zillow is perfect for searching homes for sale in the United States. By analyzing real estate information on millions of homes for sale across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index.

Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

These properties are currently listed for sale. They are owned by a bank or a lender who took ownership through foreclosure proceedings. These are also known as bank-owned or real estate owned (REO).

Coming Soon listings are homes that will soon be on the market. The listing agent for these homes has added a Coming Soon note to alert buyers in advance. Learn more .

Properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS). They include pre-foreclosures, foreclosed homes and homes with a Make Me Move ® price. Most of these properties are only found on Zillow.

Home Buyers Guide on help in buying your home. Home Sellers Guide on help in
selling your home. Foreclosed Homes Buyers helpful information.

Columbus OH Special Places and Events

April Central Ohio Real Estate
News Letter

Client Comments on Clifford Realtors Service

Columbus Ohio History

Columbus Restaurants: Fine, Casual and Family

Site Map
         
    Freddie Mac - Homestep s



                                                                     b

                                                                      

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