HB 3885

Abstract

Amends the Criminal Code of 1961. Creates the offense of unlawful manipulation of a judicial sale. Provides that a person commits the offense when he or she knowingly and by any means makes any contract with or engages in any combination or conspiracy with any other person who is, or but for a prior agreement is, a competitor of such person for the purpose of or with the effect of fixing, controlling, limiting, or otherwise manipulating (1) the participation of any person in, or (2) the making of bids, at any judicial sale. Provides that unlawful manipulation of a judicial sale is a Class 3 felony. Provides that a mandatory fine shall be imposed for a violation, not to exceed $1,000,000 if the violator is a corporation, or, if the violator is any other person, $100,000. Provides that a second or subsequent violation is a Class 2 felony. Establishes injunctive relief and a private right of action for damages or injunctive relief. Effective immediately.