Royal Bank Co-Owned Firms With Municipal Tax Lien Conspirator
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Royal Bank America, which operates 15 branches in Pennsylvania and New Jersey, co-owned two firms with a lawyer who pleaded guilty to conspiring to rig bids at municipal tax lien auctions.
Attorney Robert W. Stein, of Huntingdon Valley, Pennsylvania, was one of two men who admitted last week that he schemed to eliminate competition by allocating bids at public auctions by the state’s municipalities.