Major U.S. Retailer Files Suit Alleging Multistate Real Estate Fraud, Bribery Scheme

The country`s largest mattress retailer is accusing a host of real estate companies and executives, including its nationwide real estate broker, of a multiyear scheme that involved inflated store rents, bribes, high-priced gifts and kickbacks from developers. The company claims the scheme may have affected more than 800 stores nationwide.

Houston-based Mattress Firm is suing Colliers International`s Atlanta office, Colliers International Senior Vice President Alexander Deitch and two of the retailer`s former in-house real estate executives — Bruce Levy and Ryan Vinson — for allegedly steering Mattress Firm stores to locations with leases well above market rates....

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RSK: Stay tuned on this one. I don`t even think full disclosure would have helped these guys out.