patrick.net

The indictment alleges that from as early as June 2008 through January 2011, the defendants conspired to not compete at public foreclosure auctions in Contra Costa County and then gave each other payouts for refraining from bidding on certain properties.

They held second, private auctions known as "rounds," and concealed those rounds and payoffs, defrauding mortgage holders and other beneficiaries, the indictment alleges.

The real crime here was that apparently that counties auctions are such a closed society good ole boy club that just a five investors could collude to do this without any the millions of would be first time buyers buyers out there not bidding these properties up past their sweet spot to be worthwhile.
The Crime is that mortgage programs wont help people get in these dirt cheap auctions, but they'll gladly loan them the money. After these five assholes put a coat of paint on it, and sells it for double than they paid.

Wow, I'd like to get in on the action too.

Strategist says

Wow, I'd like to get in on the action too.

You need to know the right people to do it. I've seen plenty of government auctions and contracts show up a day prior to closing process just so "wrong" people don't accidentally compete.

That's how our good old government functions.