VINTAGE LICENSE PLATE AUCTION :eek::eek::eek:

From the O'Keefe/New York Daily News article:

"Mastro’s attorney, Michael Monico, had asked U.S. District Judge Ronald A. Guzman in court papers filed earlier this month to give Mastro probation, describing the founder of Mastro Auctions as a deeply religious Catholic who has devoted his life to work with alcoholics, the homeless and the needy.

But Guzman, citing a memorandum filed by prosecutors last week, said he was troubled by the fact that Mastro had destroyed bidding records after learning that the FBI had launched an investigation into fraud in the sports memorabilia hobby in 2006.

Assistant U.S. Attorneys Steven J. Dollear and Derek Owens said good works by Mastro, charged with mail fraud in a 2012 indictment, did not give him a “get-out-of-jail card.”

My opinion of Mastro, Allen and Theotikos?

Thumbs up.

I can't say with certainty what weight the judge gave to the letters he received, I can only say from my own experience in federal sentencings -- including those in the courthouse Mastro was sentenced -- that letters regarding the defendant's character are hugely important and can make the difference between a probationary sentence and prison time.

Mastro's statutory max was 5 years, his sentencing guidelines were 57-71 months (in reality 57-60 because of the 5 year statutory cap). But the government promised a 20 month recommendation if he fully cooperated and eventually he did.

There was no restitution ordered because the law provides that if it is too difficult to ascertain the victims and/or the loss amount then restitution need not be ordered. That being said the government surely could have asked for restitution but didn't. They also didn't need to cooperate Mastro and could have gotten convictions from all the defendants regardless. Finally, the government could have asked for more than 20 months instead of making that ridiculous promise to Mastro of 20 months. The judge said that without that 20 month request he would have given Mastro possibly 5 years.

The prosecution in my eyes was lazy (except for the FBI agent who made the case -- his work was extraordinary). They could have had more but never really cared much for the case. Not enough was done for Mastro's victims. But part of that falls on the victims of Mastro who were largely quiet. Pontificating endlessly on Net 54 but doing nothing where it matters doesn't move the ball forward. Sometimes you have to open your mouth in the right venue. The prosecutors never really felt that Mastro's victims deserved any kind of special effort from them, in my opinion. As a criminal lawyer rarely do I see a defendant's victims publicly state that the defendant was a great guy, a friend, or that they don't believe they were victimized -- even though legally they were.

Jeff,
Thanks I guess the part that bothers me most is like you said he cut a deal to only get 20 months max. But to pay no restitution? Problem I see is that the records were all destroyed but even with that can the other big 3 be held accountable and or legendary or mastro auctions as they are sentenced? I guess my question would be just because Bill wasnt ordered to pay can the others still be held responsible as in restitution?

Mastro will do what he can to ensure he can delightfully yell "I'm somebody's $#!%$" this way he does his 2 weeks hassle free and move on to other things.

As I posted, he is scheduled to be sentenced on October 14.

There are a myriad of open issues relating to loss amount between Allen and the government so it's unlikely he's being sentenced in October.

Sorry for overlooking that and thanks for the update.

So Doug is contesting even the relatively low figure the government claimed as to Bill?

He trimmed cards and he trimmed his sentence .............

A question for board's legal community...

He has been properly tried and sentenced to prison. Why wasn't he (or any other convict in the same situation) immediately taken to the hoosegow? Doesn't allowing a millionaire felon three months to plan an escape present a significant flight risk?

No, for a non-violent convicted defendant it would have been shocking for him to be taken away to immediately start serving a 20 month sentence. Plus Mastro needs to remain close by until Allen is sentenced as his cooperation may still be needed.

This might have been the best "deal" that he ever made. Despite the judge announcing that the fraud was committed on a "massive scale" to which the defendant admitted to...a lighter sentence was given for his cooperation in ongoing investigation against others...

Ricky Y

The government's press release.

http://www.justice.gov/usao-ndil/pr/...l-bidding-scam

So now that its official...PSA can change the Wagner grade to "Altered" right? :rolleyes:

Ricky Y

I think David Hall is probably still in denial.

I have a question: In 2007 the Wagner sold for 2.8 million as a PSA 8. Since it was admitted now that the card was trimmed if the seller were to put the card in an auction and it only got 2 million would the seller lose out on the other .8 million? Just seems the buyer bought the card thinking it was an untrimmed original card and shouldn't take a hit on the price since there's a good chance the card would not again bring that price.

It has been common knowledge for many many many years that the card was trimmed. I doubt any of the last several owners bought it thinking it was original.

It's the most famous card in the world now, doubt anyone is losing money on it.

Sent from my HTC6525LVW using Tapatalk

If it sold tomorrow at auction, what would it bring?

I have no idea, just curious to hear other's thoughts

My guess - $4.25 million

Tony

As Peter said, the last several owners more than likely knows the history of the card (how could someone not?) and still bought it anyways. It will be interesting to see what it will bring next time it goes to sale...the notoriety of it will probably keep the $ value up... If I won it I would send it to PSA to get it re graded and see it I can get bumped up.... :p

Ricky Y

Just tell them that you are a "friend of Bill", friends of Bill get preferential treatment.

I believe what would hurt a guy like Mastro more than a short prison sentence as a non-violent offender is the forfeiture of all of his assets. Strip his finances like a hyena on a gazelle carcass. It was money he cared about, so make him a pauper. Seems better than having him come out of prison in a year and a half a rich man.

I wonder what PSAs action would be of the current Wagner owner brought the card in simply to have it reholdered in the newest tamper resistant holder? Not for review, but to simply reholdered it. Are they obligated to reholder it at its assigned grade?

More likely that than write him a check for 2 million dollars, I suspect.

You're Missing the Bright Side
 

Retention of his assets will no doubt allow for the continuation of his good works once he is released.

The last several owners of the card may have believed the card was trimmed but it was largely speculation and not known for sure. Now the trimmer of the card admitted to altering it. I doubt someone would pay the same 2.8 million for the card knowing what we all know now.

+1...he'd miss that more than his bible!!!!

Touché

True dat Adam!

Ricky Y

From the release:

"Mastro admitted in a plea agreement that the shill-bidding scheme spanned from 2002 to 2009. The scam involved submitting phony bids to artificially drive up the price of online and live auctions."

The "shill-bidding" in my opinion went on far longer-Captain Obvious.

Hopefully, the sentence is severe enough to deter similar conduct by other auction houses. It would certainly deter me, but not so sure about some of the jokers in the business. Time will tell.

For the millions that piece of garbage stole from the hobby I would sit in the joke of a jail he is going to for 17 months any day of the week and twice on Sunday.

15 months plus two months in a halfway house.

A Good Laugh
 

Thank you to birdman , and Arlo Guthrie, for a post apropos to this situation!
Sincerely, Den*nis