LAWSUITS NEWS & LEGAL INFORMATION
Ezra Dweck
New York, NY: (Jun-10-07) New York Attorney General Andrew Cuomo's office brought civil fraud charges against Manhattan jeweler Ezra Dweck, owner of the EMH Group. An investigation begun after EBay, in an ongoing effort to combat abuses of its services, brought the deceptive practices to the attention of then attorney general, Eliot Spitzer in late 2005. Cuomo's office claimed that the investigation confirmed that Dweck distributed spreadsheets to his employees indicating what bids to place with phony accounts to drive up the final sale price of his auction items. In a one-year period, the company placed some 232,000 bids totaling $5 million, having boosted the average price of goods by 20 percent.
In a settlement reached, Ezra Dweck agreed to pay $400,000 to settle the civil fraud complaint with the AG's office. The settlement includes a four-year ban on participation in online auctions, a $100,000 fine and $300,000 in restitution for what is known as "shill" or fraudulent bidding. [DIAMONDS: ONLINE BIDDING]
Published on Jun-11-07
In a settlement reached, Ezra Dweck agreed to pay $400,000 to settle the civil fraud complaint with the AG's office. The settlement includes a four-year ban on participation in online auctions, a $100,000 fine and $300,000 in restitution for what is known as "shill" or fraudulent bidding. [DIAMONDS: ONLINE BIDDING]
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