A JEWELLERY company on eBay that allegedly bid on its own auctions to illegally drive up prices by as much as 20 per cent agreed to pay $475,000 in restitution and penalties, the New York state attorney general’s office said.
Ezra Dweck and employees of his company, EMH Group, placed more than 232,000 such bids worth some $US5 million over about a one-year period, Attorney General Andrew Cuomo’s office said.
Dweck and EMH Group have also been banned from the online auction industry for four years under the terms of the settlement agreed to by the parties, Mr Cuomo’s office said.
A lawyer for Dweck and EMH said they had resolved the matter “only to avoid an interminable, costly battle with the AG’s office.”
Ebay trader fined $475,000 | Australian IT
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