Records turned over to a federal grand jury investigating municipal tax-sale auctions show that two of Maryland's largest tax-sale investors didn't bid against each other for properties during the past four years in Montgomery County.

The subpoena, the story says, "was issued on the same day in August that the FBI conducted simultaneous raids at two Baltimore County real estate offices, seeking evidence of restraint of trade in tax sales."

Most local counties and cities hold an auction once a year to sell off the rights to collect property owners' unpaid tax bills and similar debts.