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January 31, 2020

Posted  January 31, 2020

A bidder in the sale of a loan from the Department of Energy has agreed to pay $29 million to resolve allegations of colluding to rig the auction of the loan, thus depriving the agency of a fair bidding process and reducing the amount recovered by the agency.  The allegations that Hybrid Tech Holdings LLC, Hybrid Technology LLC, and Ace Strength International LTD exerted pressure on two other bidders to suppress their bids during the live auction were made by whistleblowers William Baldiga and the FAH Liquidating Trust in a qui tam suit.  The relators will share in $5.2 million of the recovery.  DOJ; USAO DC

Tagged in: Bribery and Bid-Rigging, FCA Federal, Government Loan Programs, Whistleblower Case, Whistleblower Rewards,

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