Estates Class Action
18350
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Class Action Lawsuit Alleges Foreclosure Bid-Rigging Scheme

 

J.C. White Law Group PLLC and Blue LLP have filed a proposed class action lawsuit in the U.S. District Court for the Middle District of North Carolina on behalf of property owners who lost their homes and properties to a bid-rigging scheme in violation of Section 1 of the Sherman Act. The complaint alleges that a group calling itself “The Estates” and its members, who operate through multiple LLCs, engaged in an illegal conspiracy to coordinate their bids at public foreclosures across the state of North Carolina. The Plaintiffs believe that this scheme may operate in other states as well, including Texas and South Carolina. 

 

 

People who think that they may have lost their home at foreclosure in this scheme and are interested in contacting us about potential representation can fill out the form above or call us at 919-246-4676 or 919-833-1931.a

DEFENDANTS
 

The Estates Defendants:  The Estates Defendants are a series of companies and individuals who are directly associated with the management of the Estates Cartel and the database through which the Estates operates.

The Brooksby Defendants: The Estates Cartel was founded by Defendant Craig O. Brooksby.  Brooksby has an ownership interest in the Estates Defendants and the Equity Share Defendants through a series of LLCs, principally Avirta, LLC. 

The Bidding LLCs: Members of the Estates are required to establish separate companies to participate in each foreclosure sale.  These LLCs, which are established for the sole purpose of placing a bid and purchasing the property are Bidding LLCs.  An Acquisition Assistant and sometimes another Estate representative, as well as the winning bidder, serve as managers. 

The Equity Share LLCs: In the case of “complex” transactions separate LLCs are established, all of which are owned and controlled by the Brooksby Defendants, which are Equity Share LLCs.  The Estates Cartel derives profits through the Equity Share LLCs through the sale of the underlying properties. 

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    Or call us at 919-246-4676 or 919-833-1931