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Eight eBay sellers to pay restitution, fines for phony bidding

[JURIST] New York Attorney General Eliot Spitzer Monday announced the resolution of three cases that involved posting false bids to drive up the price of auctions on internet marketplace EBay. Over 120 people will receive restitution payments for their purchases of artwork, sports memorabilia, and cars in on-line auctions; together with fines, the sellers will pay almost $90,000. In the only criminal case, a former owner of an auction gallery pleaded guilty to combination in restraint of trade, a felony violation of New York antitrust law punishable up to four years in prison. Read the New York Attorney General's office press release here. AP has more.

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