Sunday, June 10, 2007

Jewelry merchant on eBay fined $400,000

NEW YORK (Reuters) - A jewelry company on eBay Inc. that allegedly bid on its own auctions to illegally drive up prices by as much as 20 percent agreed to pay $400,000 in restitution and penalties, the New York state attorney general's office said on Saturday.

Ezra Dweck and employees of his company, EMH Group, placed more than 232,000 such bids worth some $5 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, Cuomo's office said.

complete article

2 comments:

FireMeg said...

Notice how long it took eBay to report this? (Over two years) and just in time for eBay Live.

Do you think eBay will be giving back all the money it made from this seller - which was a minimum of half a million dollars in fees over the course of the year in question.

http://www.firemeg.com/2007/06/ebay-auction-fraud-by-manhattan-jeweler.html

FireMeg said...

http://www.firemeg.com/blog.html

if that last link ran off the page.