M.D. Sass, U.S. Bancorp Sued Over Lien Sales Probed by U.S.
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M.D. Sass Investors Services Inc., a closely held manager of more than $5 billion, and a unit of U.S. Bancorp were sued in a racketeering lawsuit claiming they helped to rig New Jersey municipal tax lien auctions for a decade.
The complaint by homeowner Raymond V. Contarino Jr. was filed March 30 against New York-based M.D. Sass, U.S. Bank, and four of six individuals who pleaded guilty in a U.S. antitrust investigation of rigged lien sales in New Jersey. It claims they engaged in a “cynical conspiracy” to eliminate competition at auctions.