Kevin Keating responds to shill bidding allegations

[batsballsbases]

Originally Posted by Spahn21

As some of you may know, though I rarely post comments, I am a Net 54 member and often read its discussions—especially regarding autograph-related topics. And hearing now that Doug Allen is sentenced, I would like to address the conversation of me which has taken place here over the last several days.

Exhibit E (“EE”) lists me as a “shill bidder” on 38 different Mastro-Legendary (“M-L”) lots during the period from December 2007 - February 2009. Despite what it says, the document’s assertion that I was a shill bidder is categorically untrue.

I have NEVER shill bid in a Mastro auction, Legendary auction, or any other auction.

There was, however, a reason why the government included my name in relation to those items. Here is what happened.

On six occasions from 2007-2008 M-L paid me to authenticate autograph material consigned to their auctions. Sometime during or before this period, M-L auctions instituted a written code of conduct (“COC”), see:

http://www.sportscollectorsdaily.com...de-of-conduct/

According to paragraph 2 of its COC, M-L violated its own rules by accepting bids by me, one of its authenticators, on items they knew to be consigned by M-L or another party as defined in paragraph 2. This violation applied to the 38 lots in question, all of which I had bid on to win (succeeding on six), and all of which I am told were owned by an entity defined in COC, paragraph 2. Until the release of EE, I never knew the identities of the consignors of those items, or that my bid on any of those lots constituted a violation of any M-L rules. And I also did not know until last week that M-L was obligated under its COC to prohibit me from bidding on those lots.

The U.S. Attorney’s Office has confirmed that it has absolutely no evidence that I shill bid on any item, and that these 38 lots were added to EE because M-L violated its own publically released rules (COC, paragraph 2) by their acceptance and inclusion of my bids on items they knew were owned by M-L, a M-L employee or a M-L affiliate – and not because of any wrongdoing by me.

Despite my desire to release this statement before now, I wanted to allow the final proceedings in the criminal case to conclude first. And it is my understanding that those ended today with Doug Allen’s sentencing.

I cannot speak to any situation but my own. But if any of you have questions regarding this matter as it relates to me, please post them here and I will do my best to answer them.

--Kevin Keating

Kevin,
I dont know you but I do know you have been around a long time. So for me it would go a long way if as you say, or was this a copy and paste " The U.S Attorneys office has confirmed that it had absolutely no evidence that I shill bid on any item" How do you know that? Did you call them and had a conversation with someone at the attorneys office saying so? Do you have a letter in writing sent to you that says You did nothing wrong and if so will you show the letter on net54? Is there some other way Im missing that you have been sent this info? email? Text? But if this is just he said she said stuff that you have proven nothing. sorry but doesnt fly with me show the proof than maybe others will believe you... Maybe then you should try and do what I have suggested that way its crystal clear to all..

Al S!@eo ne

[nsaddict]

This is NOT directed at Kevin. But wondered, will anyone on "the list" actually come on here and state they're guilty and had a good run while it lasted? NO! However, anyone not commenting in any fashion will cast a shadow imo.

[Tabe]

Originally Posted by nsaddict

This is NOT directed at Kevin. But wondered, will anyone on "the list" actually come on here and state they're guilty and had a good run while it lasted? NO! However, anyone not commenting in any fashion will cast a shadow imo.

Well, at least one shiller/seller combo has already admitted what they did in the big thread.

[nsaddict]

Yes, he was put on the hot seat more than I expected. And does deserve credit for coming forth.

[batsballsbases]

Kevin,
In post 20 I asked you a few questions, Its been an hour and a half since I asked. I know you have read it and as you say in Post 1 " But if any of you have questions regarding this matter as it relates to me please post them here and I will do my best to answer" WELL?

[Tennis13]

Originally Posted by batsballsbases

Kevin,
In post 20 I asked you a few questions, Its been an hour and a half since I asked. I know you have read it and as you say in Post 1 " But if any of you have questions regarding this matter as it relates to me please post them here and I will do my best to answer" WELL?

I guess to further this discussion: On the CLCT earnings call last week (you can check the transcript) I asked your CEO if they had done any internal investigations on you and the two other Board of Experts mentioned in this report, and he said Mastro was in the past. Have you had any discussions with an internal quality control team at all?

Transcript below:

Okay and then my last question would be along the line of the experts in the graders. Doug Allen document that was filed last week, have you guys done any sort of internal reviews, are you planning any kind of internal or do you see that three of your members of that expert grading board were mentioned did not report.

Robert G. Deuster

I'm not that familiar with the report, you are talking about. Are you talking about our advisors or grader?

Scott Kurtis

[Technical Difficulty] the maestro options

Robert G. Deuster

Well that's an old case, of course it's a high profile case. I thought, you were talking about coins. Pardon me. I'm sure they got reference because they are staff that we had and still have, but they are certainly not implicated in anything and so it's not really an important consideration on our plate right now. That's just a case that’s continuing on. So I really can't add much to it beyond what I guess was printed, but I haven't seen what you are referring to directly.

[Duluth Eskimo]

I don't know Hank, but like many of you I received the email from Kevin. I don't know Kevin, but have met him a number of times and have followed his business for many years. I have never heard a bad word about the guy other than people disagree with his pricing. I have never heard anyone say anything about his integrity and I have never seen him associated with a "bad" autograph. His explanation sounds completely legit and waiting to release a statement when he knew the facts is exactly what I would have done if in that situation. Bottom line, count me as one who believes him. Nuff ced. Jason