Mastro and Allen Indicted

[calvindog]

Carry on.

[Leon]

story

http://www.nydailynews.com/blogs/ite...-fraud-charges




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[sportscardpete]

Did i maybe misread it - is the maximum sentence printed? How long could he possibly go away to jail for?

[WhenItWasAHobby]

Quoting from the article:

"According to the indictment, in advertising portraying Mastro Auctions as the premier seller of valuable items, including the world’s most expensive baseball trading card, a Honus Wagner T-206 card, Mastro allegedly failed to disclose that he had altered the Wagner T-206 card by cutting the sides in a manner that, if disclosed, would have significantly reduced the value of the card".

HOLY "NEVER GET CHEATED" BATMAN! This could potentially be one colossal buy-buck by the company that graded that card.

[e107collector]

Oh boy. Doesn't sound good.

I think each count of fraud carries a maximum sentence of 20 years and a hefty fine. Don't quote me on the numbers, but they are serious charges.

Tony

[peterose4hof]

I wonder how it is that they determined Allen (14 counts) was much more culpable than Mastro (1 count).

[bijoem]

yuck.

[glynparson]

Grading did not bring out the card doctors they were here well before grading. It did however make some of the better ones loads of money.

[Ladder7]

Ahhh retribution.

[Peter_Spaeth]

Originally Posted by glynparson

Grading did not bring out the card doctors they were here well before grading. It did however make some of the better ones loads of money.

Card doctoring was rampant in the early 90s when PSA started. Although it did not work out perfectly in practice, I think it did deter, and has deterred, at least the more blatant fraud. It was very helpful to me in learning who could be trusted and who could not in the days of buying blind through SCD ads.

[WhenItWasAHobby]

From the FBI Press Release:

The Code of Conduct also provided certain assurances that Mastro Auctions would disclose information about auction items that were altered or restored. After the code was published, Mastro and Allen allegedly failed to disclose alterations and caused restoration work to be done on baseball trading cards, despite assurances that no such work would be performed.

If it was admitted that the Wagner was trimmed, it appears other cards were doctored also, since there are allegations of "restoration work".

The next set of questions that beg to be asked, "Which cards?" "Were they graded by a TPG company?" "Which company" "Who restored them?"


http://www.fbi.gov/chicago/press-rel...r-collectibles


As for my take of Third Party Grading, it was good initially in screening out a lot of amateur doctoring, but has failed miserably in detecting the many of the advanced alterations that are rampant in the industry today.

[ls7plus]

Originally Posted by glynparson

Grading did not bring out the card doctors they were here well before grading. It did however make some of the better ones loads of money.

Glyn is right on. Grading exposed some of the quick and dirty card doctors, and some with a few more basic skills, such as running the card through a paper press to enlarge it, then cutting it back to standard size. It educated many of us as to what to look for back in the early to
mid-'90's in buying unslabbed cards, and which dealers to avoid.

Larry A. Smith

[bbcard1]

Had it been established who the cutter was?