Michael O’Keeffe with the New York Daily News continues to chronicle the ongoing saga surrounding Mastro Auctions and the Justice Department’s prosecution of principals from the sports memorabilia auction house, based on the FBI investigation that began in 2007. Yesterday, prosecutor filed papers with the Chicago federal court seeking a 57 month prison term for former Mastro Auctions president, Doug Allen, as a result of his “outright contempt” for law enforcement. [Read more…]
Following Mark Hamill‘s “hands on” approach to combating autograph fraud last month (see Revenge of the Jedi: Mark Hamill (@HamillHimself) Uses Twitter To Strike Down Memorabilia Fraud), the actor has now teamed up with California Assemblywoman Ling Ling Chang (R-Diamond Bar), who had already begun work on AB 1570, which would require certificates of authenticity (COAs) for autographed memorabilia sold in California and/or to Californians. I’m particularly interested in these developments as I’ve been writing about the mechanics about COAs and issues regarding guarantees and warranties as well, and of course the rampant fraud in the marketplace as a result of criminals using worthless COAs as a tool to sell fraudulent memorabilia. [Read more…]
Local mainstream media outlets in Youngstown, Ohio are reporting on “what investigators say is the biggest case of domestic fraud in the history of the online auction site eBay“. Of course, sports memorabilia is the fraud that was targeted, not entertainment memorabilia… the story by WFMJ states that the “alleged enterprise involving phony autographs on sports memorabilia… cheated 25,000 people out of more than $2-million dollars”. Hopefully, someday, law enforcement will investigate the long term eBay dealers that have been selling common antiques like plates and telephones and ashtrays attributed to classic television shows and movies (which, like the fake sports memorabilia with forged autographs, include worthless COAs from companies with the worst reputations in this art market). [Read more…]
The New York Daily News continues to take the lead in the mainstream media on the story about “disgraced sports memorabilia pioneer” Bill Mastro, Founder and CEO of Mastro Auctions, which shut down in 2009 during the FBI investigation. In the ongoing saga, he plead guilty to shill bidding and mail fraud and admitted to trimming/altering a high value trading card to increase it’s value. U.S. District Judge Ronald A. Guzman sentenced Mastro to 20 months in prison; NY Daily News reports the judge was “troubled by the fact that Mastro had destroyed bidding records after learning the FBI had launched an investigation into fraud…“. [Read more…]
Tribune Broadcasting’s New York flagship station, WPIX-TV (PIX11) in New Jersey, recently published a news report about the Bergen County Prosecutor’s office auctioning off memorabilia seized in 2007 – memorabilia that Prosecutor John Molinelli was warned included fake autographs. The report claims that a prior report revealed that the prosecutor’s office made false statements in an official document in order to get a no bid contract for their “handpicked” memorabilia authenticator. Purportedly, these news stories lead to refunds being offered to the buyers. One of the buyers subsequently filed a criminal complaint against the prosecutor which went to the Bergen County Policeand then to the New Jersey Attorney General’s Division of Criminal Justice; the AG’s office then sent a letter to people who’d complained and it said that their information “was received and reviewed…The matter is now closed.” [Read more…]
The New York Daily News lead mainstream media reports yesterday about “disgraced sports memorabilia kingpin” Bill Mastro of Masto Auctions plead guilty to mail fraud and admitted to trimming/altering a high value trading card to increase it’s value. Mastro will be sentenced by U.S. District Court Judge Ronald A. Guzman, and faces up to five years in prison. [Read more…]
CBS News has broadcast a fascinating feature and interview with Ken Perenyi, a self-taught artist who fooled the art market and auction houses with forgeries of paintings. His method was to bring paintings he himself made into auction houses, and ask them what he had, saying now in retrospect, “risk is addictive“. [Read more…]
This week The New York Times published an interesting article (“As Art Values Rise, So Do Concerns About Market’s Oversight”) about customs in the high end art market auction world that are not favorable to consumers. Though the article is specific to the art market and New York (and their own laws, rules, and regulations), some of the issues are very much the same ones we face in the original film and television artifacts market, and is “must” reading for anyone involved in buying and selling original TV and movie props, costumes and other production material sold in the marketplace. [Read more…]