FBI Investigates Shill Bidding on EBay

Share this content:
The FBI is investigating several eBay users for shill bidding, according to a report in The New York Times yesterday.


EBay, Santa Clara, CA, would not comment directly on the case but said it is cooperating with investigators who began looking into false bidding on the Web site after the much publicized Kenneth A. Walton incident.


Walton, a Sacramento lawyer, bid on a painting he put up for auction that was rumored to be by artist Richard Diebenkorn.


EBay eventually suspended the auction and permanently stripped Walton of his eBay privileges. According to the report, Walton is also under suspicion for acting with others to bid up the price of other auctions. He has denied those charges.


Participation in false bidding, or shill bidding, violates federal statutes against mail and wire fraud. Offenses carry the maximum penalty of up to five years in prison and $1 million in fines.


EBay also suspended eight Internet names and disciplined 15 names all together since the Walton incident, the report said.
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above