Collectors (PSA) Acquired SGC

[Snowman]

Originally Posted by Peter_Spaeth

Travis, as I understand it, Brent through his former counsel originally was cooperating with the feds (something clearly guilty parties frequently do in the hope of getting a lighter sentence at the end of the day, meaning they will furnish evidence and eventually testify against other defendants should a trial ensue); but subsequently switched counsel and apparently decided no longer to cooperate. This was all discussed on Blowout and to an extent here as well if I recall.

Ah, OK. That was my guess, but wasn't sure. Lichtman spoke a little bit about his time defending Brent/PWCC on the Hobby News Daily podcast yesterday. The full interview was pretty good/interesting, so it's worth a listen if you're into that sort of thing. Here's a link to it. The PWCC conversation starts at 11:44 into it.

https://youtu.be/RqE-UT8ShH0?si=sV-kEZQ1363drv9c&t=704

Here's a transcript of what he says during this segment:

Originally Posted by Jeffery Lichtman

"I was a harsh critic of Brent & PWCC when I believed they were committing fraud. Then they became targeted by the FBI, and at that point, I felt that in order for them to get a more favorable disposition of their situation, I felt that they should take in all the cards that were altered in some way or another and give refunds, which they did. And I think that went a long way toward helping their situation. They accepted responsibility, they made people whole (not everybody, that's for sure), I suppose - and not everybody wanted to be made whole because a lot of people had trimmed cards in PSA holders, in high grades, and they figured why should I get back the price that I paid for this thing when it's gone up in value since then? This is the hobby. Everybody's against fraud except when it can make you money. This is an interesting mess of people in the hobby. You know, bless their hearts because I suppose I'm one of them."