Indicted for Bid Rigging and Fraud
The Department of Justice indicted five real estate investors in Northern California for bid rigging and fraud. The government alleges that John Michael Galloway, Nicholas Diaz, Glenn Guillory, Thomas Joyce, and Charles Rock entered into a scheme to purchase real estate from foreclosure auctions. Prosecutors contend that the defendants made an agreement among themselves to avoid a bidding war that would escalate prices on real estate properties they wanted to purchase in California. Rather than competing against each other at the auction, the men supposedly conspired to ensure maximum profits.
During the decades that I served in federal prison, I interviewed and wrote about hundreds of defendants who were accused of white-collar crimes like bid rigging and fraud. Those individuals did not consider themselves criminals. In fact, many didn’t even know that they were breaking the law. From their perspective, they were simply doing good business. They wanted to buy low and sell high. The strategy allowed them to build successful businesses and pay taxes. Prosecutors see things differently. From the government’s perspective, when business owners collude in ways that lessen competition, they create unfair advantages.
Federal prosecutors sometimes respond with criminal indictments, as was the case with the defendants in this nine-count indictment. The decisions those defendants make going forward will have enormous consequences. Clearly, they will retain competent defense counsel. The defense counsel will guide the defense counsel through each phase of the trial process. I wish them success and the best possible outcome.
Yet any time an individual faces a criminal prosecution, the best possible outcome begins with preparation for every possibility, including a conviction.
Unfortunately, few defendants appreciate the reality that when prosecutors initiate charges for bid rigging, fraud, or violations of antitrust laws, prison is a possibility. While in federal prison, I interviewed many business owners who refused to believe that prison was a possibility. As a consequence, they made decisions that they later came to regret. They wished that they had invested more time and resources in understanding the possible sanctions as soon as they learned that they had become targets of a criminal investigation. Such preparation would have endowed them with knowledge to make more-informed decisions through the judicial proceedings. Some served longer terms in prison, and they served those terms in prisons with harsher conditions as a consequence of their decisions.
At Prison Professor, we offer guidance for defendants who are being prosecuted for bid rigging, fraud, antitrust violations, or any type of white-collar crime. Our lessons help defendants make better decisions and prepare for a successful journey. Defendants learn strategies that will help them work more effectively with defense counsel. Further, they learn how to prepare effective sentence-mitigation plans and they learn how to prepare for success in spite of a criminal indictment.
If you’re being charged with a white-collar crime, contact us at PrisonProfessor today so that we can help to restore confidence and peace during these challenging times. The choices defendants make at the earliest stages can influence the length of sentence and the conditions of confinement. We’re the best in the world at bringing clarity on such matters and we add value for both defense attorneys and for defendants.