Outed cards, now including a 130K gain on an Aaron rookie

[calvindog]

Originally Posted by swarmee

You are correct. PSA has to openly state they are WOEFULLY INCOMPETENT of detecting alterations including trimming, recoloring, rebuilding corners, and pressing out creases or they are lying. Or they have to reveal the scammers internal to their organization and prosecute them for fraud. They also need to openly state ALL OF THE SCAMMERS THAT ARE BANNED FROM SUBMITTING so the rest of the collecting community is aware and the information can be given to the other grading companies, auctionhouses, etc.

After that, they have to buy back all of these cards revealed to be altered, and remove them from their pop reports.

Then they need to actually develop the tactics, techniques, and procedures to detect alterations.

Otherwise, their business model crumbles. Maybe it does anyways. As a publicly traded company with millions of dollars of fraud uncovered in weeks by volunteer detectives, they are exposed both literally and financially.

PSA is circling the wagons and will fight to the death any notion that they are financially responsible for this debacle. They will pay some squeaky wheels back but will surely not make any public pronouncement that anyone who has one of these obviously trimmed cards will get their money back. That would require them to accept responsibility and that's not happening. When has PSA ever fell on its sword for their incompetence and negligence?