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Actually, this post doesn't answer its title's question, but offers valuable advice on how a webmaster can deal with links launched by a competitor to harm rankings.
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from ogletree 1147 Days ago #
Votes: 0

The answer is yes.  It is not hard to do.  The only problem is that it can also help.  Even if you do hurt them there is a very good chance that the penalty will be for only a few months then they will come back and will rank better. Also Google does not catch all link spam.  There is a chance that you will just help them.



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from carleisenstein 1144 Days ago #
Votes: 0

As ogletree points out - I think that's the great dilemma.  If it was that easy, then we'd all be at the mercy of blackhat's trying to destroy our rankings!  That's why there can never be a simple Google penalty for link buying.



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