I think that if Forman was buying cards raw, then that would certainly open it up for speculation. I know he sold some stuff at REA
http://www.robertedwardauctions.com/.../2009/280.html, though it explicitly stated that Forman had purchased it on the open market. He probably knows he can't buy raw cards.
That Forman ran up such a debt, failed to pay it when card prices crashed, and apparently had a close friendship with Bill Mastro, known for allegedly shill bidding and card trimming, is disturbing. It's really hard to know what to think. I'd like to think the best of everyone. Those of us who do are bound to be disappointed (but probably happier for it).
:Edited to note that Forman bought the T206 Bresnahan SGC 96 on 12/13/07 - that must have been the date that the trouble started with Forman buying too many cards. That was right before the recession hit.