PWCC Statement on Recent Card Trimming Concerns

[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.