There. is. no. evidence. of. this.
I'm not sure how otherwise skeptical techy people imagine a conspiracy into reality with nothing to back it up. Don't you think that of the thousands of people who have worked at yelp, that one of them would have spread news about it with their peers?
The "shakedowns", floods of negative reviews, sudden filtering, etc. Every single instance is some anecdotal story online, and has never been backed up in court, by investigative journalism, a scientific study, any kind of material evidence.
The barrier to entry to create a business listing, get reviews, get a sales call from yelp, and study the change in review is really, really low -- and yet you'd think we'd have more proof to go on than comments on hackernews and reddit if yelp were as shady as is claimed.
There are third party services that are effectively shakedowns -- similar to what shady SEO people do to spam whois contacts -- they threaten you with worse rankings if you don't pay up. These things have no connection to yelp itself.