Mastro, the founder of Mastro Auctions and the brother of Randy Mastro, Rudy Giuliani's former deputy mayor and longtime aide, was charged with one count of wire and mail fraud. His attorney, Michael Monico, said he expects the case will be resolved without a trial, indicating that Mastro is cooperating with authorities.
Mastro dropped out of the hobby in 2009, after he shut down Mastro Auctions, which once generated as much as $50 million a year in sales. He sold his legendary memorabilia collection in 2010.
"Bill accepts responsibility for the actions that led to this case," Monico said. "For many years, Bill has dedicated himself to religious and charitable works."
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