- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)40
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- Ray's of Kelso, Plaza by Ray's to change ownership; Fonn to buy enterprise (04/20/16)3
- Missouri House votes to allow concealed weapons without permits (04/28/16)6
- Cape council approves nearly $1M in park, sculpture projects with little public discussion (04/22/16)37
- Law firm requests information about Cape's traffic cameras (04/25/16)2
- Tanker truck catches fire near Oak Ridge (04/24/16)7
- Local lawmakers split over failed medical marijuana bill; voters may have a say (04/26/16)19
- Local company makes eco-friendly kitty litter that cuts cat-box smell (04/25/16)
Stamp dealer charged with rigging bids
PHILADELPHIA -- A stamp dealership is accused of rigging bids at auctions in the United States and Europe over almost two decades, the Justice Department said.
Earl P.L. Apfelbaum Inc. and executive vice president John Apfelbaum were charged Monday with conspiring with unnamed others to submit "collusive, noncompetitive and rigged bids," prosecutors said.
Authorities said about $20 million in stamps were sold at the periodic public auctions in the United States and Europe.
The Justice Department said the defendants took part in pre-auctions to determine which dealer would bid for specific lots of stamps. They agreed not to bid against dealers who submitted the highest bid in the pre-auction and paid dealers who agreed not to bid at the public auctions, prosecutors said.
The felony charges carry a maximum fine of $10 million for a corporation and three years in prison and a $350,000 fine for an individual.
There was no comment from the defendants Tuesday. A message left for John Apfelbaum was not immediately returned.