PWCC Statement on Recent Card Trimming Concerns

[marcdelpercio]

I will preface to say I am not a lawyer, though I do hang around some pretty good ones quite often.

The best analogy I can come up with is rolling back the odometer on a car, which is a felony. Obviously, the car is still authentic and in many ways materially the same. However, it has been altered in a way to make it appear to be in a much more pristine condition and have less wear than is actually the case. When buying a vehicle, the purchaser must receive a written declaration of the accurate mileage.

Imagine a scenario where a person purchases a vehicle with 100k miles, rolls back the odometer to 10k, and details the rest of the car to make it appear in significantly better condition. Then this person takes said vehicle to a "professional" mechanic or vehicle inspector who certifies that it does, in fact, only have 10k miles on it and is otherwise unaltered. Then this vehicle is sold for multiples of what it otherwise would be, based on the representation of mileage and condition.

Is this not fundamentally what is happening here? And, if not, please explain your reasoning.