PWCC Statement on Recent Card Trimming Concerns

[vintagetoppsguy]

Originally Posted by griffon512

where, as alluded to before, fraudulent is this:

Legal Definition of Scheme Or Artifice To Defraud
www.lectlaw.com/def2/s003.htm
SCHEME OR ARTIFICE TO DEFRAUD. A scheme or artifice to deprive another of the intangible right of honest services. 18 USC; Any plan or course of action intended to deceive others, and to obtain, by false or fraudulent pretenses, representations, or promises, money or property from persons so deceived.

Understood. But some could argue that it's not fraud if it improved the condition of the card as some truly believe. See my example above. If I re-wire a house because it has old, faulty wiring and then sell the house, do I have to disclose that it was re-wired? Do I have to disclose other upgrades? Do you not see where I'm coming from?

I guess what I'm saying is that Moser, Brent or whoever could argue that the customer wasn't deceived, but instead they were done a favor by improving the condition of the card.

[griffon512]

Originally Posted by vintagetoppsguy

Understood. But some could argue that it's not fraud if it improved the condition of the card as some truly believe. See my example above. If I re-wire a house because it has old, faulty wiring and then sell the house, do I have to disclose that it was re-wired? Do I have to disclose other upgrades? Do you not see where I'm coming from?

I guess what I'm saying is that Moser, Brent or whoever could argue that the customer wasn't deceived, but instead they were done a favor by improving the condition of the card.

if it comes to it, they can argue whatever they want...a spade is still a spade...or at least it should be if shown to be

re: this: "could argue that the customer wasn't deceived, but instead they were done a favor by improving the condition of the card."

"deception" and "favor" are not mutually exclusive, nor does the law say they have to be to show fraud i would imagine. in other words, if an act is fraudulent whether it is determined to be beneficial does not make it something other than fraud...that would be my layman's assumption at least.

[steve B]

It's sad to see so many essentially sticking up for the trimmers. A couple articles

First, when it becomes acceptable to use a nonsense story about "I didn't know" and what happens after.
https://www.wweek.com/news/courts/20...-it-heres-how/


And the "is it really a crime" thing...…

https://www.autoblog.com/2019/02/07/...ed-each-night/

[vintagetoppsguy]

Originally Posted by steve B

It's sad to see so many essentially sticking up for the trimmers.

Sad to see comprehension of the English language is lost as well. Nobody stuck up for the trimmers.

[swarmee]

I'll take the bet that Brent is indicted by Jan 1, 2021 or that he turns state's evidence against BGS and/or PSA and one of their principals is indicted. $500

[vintagetoppsguy]

Originally Posted by swarmee

I'll take the bet that Brent is indicted by Jan 1, 2021 or that he turns state's evidence against BGS and/or PSA and one of their principals is indicted. $500

That wasn't the bet. I will you $500 that Brent is indicted by 1/1/21. Your $500, my $2000. That's the bet if you want it...and I'm actually extending the timeframe in your favor (I originally said within 1 year).

[CuriousGeorge]

Originally Posted by vintagetoppsguy

That wasn't the bet. I will you $500 that Brent is indicted by 1/1/21. Your $500, my $2000. That's the bet if you want it...and I'm actually extending the timeframe in your favor (I originally said within 1 year).

David, Brent has admitted that he is already dealing with law enforcement after about 2 weeks of this. You’re making like this is Monty Python and that’s just a flesh wound. Who knows what happens next? Does he roll on Moser? Anyone at PSA? If he does and they have issues and he just has to pay back a small fortune in restitution but doesn’t get indicted, does that make you a winner in the bet? I’m not sure you’re clearly seeing what’s going on here. 2 weeks in and already law enforcement involved. This time is different.

[1952boyntoncollector]

Who actually has been harmed and what cards. Maybe if we had names and cards and saw a growing list of specific harm it would be more tangible.

Maybe im in the minority but everything to me is too vague as to the harm when there arent really any specific victims complaining and what amounts are being alleged...


general market value going down is too vague.

I know it will be hard to identify some true victims but if you cant identify any than it is what it is..

[36GoudeyMan]

There is NO doubt that PWCC is engaging in a criminal activity. I'm a lawyer with 40 years experience, including RICO cases. But so what? We shut down a dealer and someone else becomes the outlet for fraudulently altered cards. It becomes Whack-A-Mole.

The bigger issue is TPG authentication of clearly altered cards. The blessing/imprimatur of TPG authentication is a public statement that the card is, in fact (not opinion), unaltered (inasmuch as TPGs have categorization ability for altered cards). Is the TPG is unaware of the alteration, then its competence has to be questioned, and its exposure to "buy back"guarantees must be disclosed publicly, if it is a publicly-traded company. If it knows of the alterations and authenticates it anyway, it is engaged in fraud and a conspiracy to commit fraud by use of instrumentalities of interstate commerce.

I am not generally considered an hysteric. Most of you have no clue who I am, or care, and that's fine. However, this is a really, really huge issue, and implicates the SEC and FTC in their regulatory powers over TPGs. I say this with all due caution: this scandal can destroy this hobby. Everyone who has any affection for this universe of collectibles needs to start demanding public accountability. File complaints with the SEC (CLCT, etc.), and the FTC, before this becomes so pervasive and rampant (or has it already) that there is no dependable collectability of these treasures any longer.

[Peter_Spaeth]

Relatedly I have thought and mentioned that if analysts became interested, due to the loss reserve implications or otherwise, PSA would have a harder time ignoring them than it historically has had ignoring collectors (see WIWAG scandal).

[vintagetoppsguy]

Originally Posted by 36GoudeyMan

There is NO doubt that PWCC is engaging in a criminal activity. I'm a lawyer with 40 years experience, including RICO cases. But so what? We shut down a dealer and someone else becomes the outlet for fraudulently altered cards. It becomes Whack-A-Mole.

The bigger issue is TPG authentication of clearly altered cards. The blessing/imprimatur of TPG authentication is a public statement that the card is, in fact (not opinion), unaltered (inasmuch as TPGs have categorization ability for altered cards). Is the TPG is unaware of the alteration, then its competence has to be questioned, and its exposure to "buy back"guarantees must be disclosed publicly, if it is a publicly-traded company. If it knows of the alterations and authenticates it anyway, it is engaged in fraud and a conspiracy to commit fraud by use of instrumentalities of interstate commerce.
I am not generally considered an hysteric. Most of you have no clue who I am, or care, and that's fine. However, this is a really, really huge issue, and implicates the SEC and FTC in their regulatory powers over TPGs. I say this with all due caution: this scandal can destroy this hobby. Everyone who has any affection for this universe of collectibles needs to start demanding public accountability. File complaints with the SEC (CLCT, etc.), and the FTC, before this becomes so pervasive and rampant (or has it already) that there is no dependable collectability of these treasures any longer.

Thank you!

Brent/Moser going to jail or not does not stop the problem. As long as TPGs continue to assign numeric grades to altered cards, this will continue. Like I said a few posts above, people need to hold PSA accountable, even if it does have an impact on the value of their collection.

[Fuddjcal]

Originally Posted by 36GoudeyMan

There is NO doubt that PWCC is engaging in a criminal activity. I'm a lawyer with 40 years experience, including RICO cases. But so what? We shut down a dealer and someone else becomes the outlet for fraudulently altered cards. It becomes Whack-A-Mole.

The bigger issue is TPG authentication of clearly altered cards. The blessing/imprimatur of TPG authentication is a public statement that the card is, in fact (not opinion), unaltered (inasmuch as TPGs have categorization ability for altered cards). Is the TPG is unaware of the alteration, then its competence has to be questioned, and its exposure to "buy back"guarantees must be disclosed publicly, if it is a publicly-traded company. If it knows of the alterations and authenticates it anyway, it is engaged in fraud and a conspiracy to commit fraud by use of instrumentalities of interstate commerce.

I am not generally considered an hysteric. Most of you have no clue who I am, or care, and that's fine. However, this is a really, really huge issue, and implicates the SEC and FTC in their regulatory powers over TPGs. I say this with all due caution: this scandal can destroy this hobby. Everyone who has any affection for this universe of collectibles needs to start demanding public accountability. File complaints with the SEC (CLCT, etc.), and the FTC, before this becomes so pervasive and rampant (or has it already) that there is no dependable collectability of these treasures any longer.

once again, I agree. I was contemplating making a complaint against collectors universe with the SEC but wasn't sure that was the proper agency? Thanks for making this point loud and clear.

[steve B]

Originally Posted by vintagetoppsguy

Sad to see comprehension of the English language is lost as well. Nobody stuck up for the trimmers.

Questioning if fraud is really a crime is just what I said.

As I understand it, altering something, getting an "expert" to say it's not altered, then selling it as unaltered is fraud.

Whether it will be prosecuted is debatable, lots of worse crimes go unpunished because the cases are too hard to get a conviction on (see the Portland car theft article.)

Or to use your house analogy, and I'd hope the actual lawyers will correct me if I'm wrong..
If you have a house, and rewire it to remove aluminum wiring, yes, that's an improvement. And I don't think you'd have to disclose it. I would also think that if it was done recently by a licensed electrician working with an approved permit, you would want to disclose that.
Of course, if there was a permit or even without one, but the work was done by your acquaintance who says he knows how to wire, but he didn't really replace all the wiring, but just enough to get it past the building inspector who is known to be overworked and as a result doesn't look all that hard... Not disclosing is a problem isn't it?
Maybe not, as long as nothing happens. But if there's a fire and some one gets hurt.... https://www.nytimes.com/1990/08/11/n...ire-death.html