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Guilty Plea in Pleasanton Foreclosure Auction Bid Rigging Case

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Yama Marifat and other conspirators pled guilty to bid rigging and mail fraud on March 4. The conspirators agreed to not bid against each other and then rebid the property privately among themselves after the auction.
 

Pleasanton real estate investor Yama Marifat pled guilty Friday March 4 to bid rigging and conspiracy to commit mail fraud.  Bid rigging carries a maximum penalty of 10 years in prison and conspiracy to commit mail fraud carries a maximum penalty of 30 years in prison and a $1 million fine.  Marifat will be sentenced May 20, 2011 in Sacramento.

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Foreclosure

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