Greg Lindberg (Beckett) Pleads Guilty

[x2drich2000]

Greg Lindberg, the CEO of the holding company that owns Beckett has pleaded guilty to fraud charges.

https://www.justice.gov/opa/pr/insur...ndering-scheme

https://www.youtube.com/watch?v=ZAMw7juMLJI

[gabrinus]

$2 Billion...small potatoes...Jerry

[Peter_Spaeth]

I guess his legal efforts didn't amount to much.

In 2020 he was convicted of bribery and conspiracy to commit wire fraud, and sentenced to seven years and three months in federal prison. The conviction was overturned by a federal appeals court in June 2022 pending a retrial. He was convicted of the same charges at a new trial on May 15, 2024.

[Yoda]

Did he use the misappropriated funds to buy Beckett?

[MikeGarcia]

Serves him right for his way-too-harsh grading standards .


This is a 7 all day long .

[lumberjack]

I am a little confused, outside of this grifter Lindberg being undone, what effect does this have on the gum card business? The guys on the YouTube site didn't address this. Will Beckett go under? The grading service seems to be apart from the fraud.
lumberjack

[Snowman]

Originally Posted by MikeGarcia

Serves him right for his way-too-harsh grading standards .


This is a 7 all day long .

You'd be lucky to get a 5 at PSA today.

Also, you're the first person I've encountered in the hobby that refers to BVG graders as being "way too harsh" lol.

[Snowman]

Originally Posted by lumberjack

I am a little confused, outside of this grifter Lindberg being undone, what effect does this have on the gum card business? The guys on the YouTube site didn't address this. Will Beckett go under? The grading service seems to be apart from the fraud.
lumberjack

He will likely be forced to sell. He's been shopping it around for years now, but every potential buyer laughed at his valuation, and they only want the grading company, not all the other worthless-adjacent components of the Beckett brand that he thinks are still worth something. He may have to take what he can get now though. It could be a good thing. Beckett couldn't possibly do any worse than they have since the pandemic.

[Peter_Spaeth]

Originally Posted by Snowman

You'd be lucky to get a 5 at PSA today.

Also, you're the first person I've encountered in the hobby that refers to BVG graders as being "way too harsh" lol.

No it would get an AUTH, PSA does not grade envelopes.

[Rich Klein]

Originally Posted by Yoda

Did he use the misappropriated funds to buy Beckett?

John: I don't think so on that one. From what I heard back in the day, he did not pay very much for Beckett and could easily afford what the price was at the time.

Rich

[pbspelly]

Did the fraud have anything to do with the Beckett business?

[raulus]

Originally Posted by pbspelly

Did the fraud have anything to do with the Beckett business?

Doesn’t really seem like it. If it does, then it’s fairly incidental.

At the same time, I suppose there are plenty of us who are discouraged that so many of the major players in our world have checkered pasts. Or in some cases they were major players until their perfidy was uncovered. And sometimes they power through the perfidy and continue to be a major player in our world. But it doesn’t make it any less disheartening when another serious fail like this comes to light.

[Yoda]

One thing for sure: The Beckett brand has taken another hit.

[pbspelly]

Originally Posted by raulus

Doesn’t really seem like it. If it does, then it’s fairly incidental.

At the same time, I suppose there are plenty of us who are discouraged that so many of the major players in our world have checkered pasts. Or in some cases they were major players until their perfidy was uncovered. And sometimes they power through the perfidy and continue to be a major player in our world. But it doesn’t make it any less disheartening when another serious fail like this comes to light.

I have to agree. There seems to be an unsettling number of major players in the industry who get exposed for doing something shady.