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Estate agents fined for forming fee-fixing cartel

For sale sign
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Three estate agents have been fined more than £600,000 after illegally fixing minimum commission rates for seven years.

Michael Hardy, Prospect, Richard Worth, and a fourth company, Romans, all of Berkshire, broke competition law by running the cartel.

It set minimum commission rates for properties in Wokingham, Winnersh, Crowthorne, Bracknell and Warfield.

The Competition and Markets Authority (CMA) said Romans would not be fined as it informed it about the racket.

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