Maestro pleads guilty, faces 2 1/2 years in prison

Leon · #1 10-10-2013, 03:19 PM

Quote:

Originally Posted by Wite3

Would love to see the deposition now...does Bill Mastro say that Joe Orlando knew the card was trimmed before it was encapsulated? If so, is Joe now on the hook for a similar fraud case...can you have accessory to fraud? I know the current owner would not return it to PSA for a refund but could he sue for damages between the current value of a trimmed Wagner and the value of his purchase? Lots of questions still to be answered.

Joshua

If I am not mistaking (and I could be) I don't think Joe O was in charge at the time of the grading of the Wagner.

barrysloate · #2 10-10-2013, 03:31 PM

I recall David Hall making a statement to the effect that he was totally comfortable with assigning the card an 8 grade. Is he still cool with it?

Peter_Spaeth · #3 10-10-2013, 03:32 PM

Quote:

Originally Posted by barrysloate

I recall David Hall making a statement to the effect that he was totally comfortable with assigning the card an 8 grade. Is he still cool with it?

He looked at it with a magnifying glass and it was fine.

barrysloate · #4 10-10-2013, 03:33 PM

Quote:

Originally Posted by Peter_Spaeth

He looked at it with a magnifying glass and it was fine.

Case closed.

BigJJ · #5 10-10-2013, 03:45 PM

I always wondered how it was done.

I am very impressed with how well it was cut.

Especially with such a device.

Peter_Spaeth · #6 10-10-2013, 03:46 PM

May he be the first of many.....

calvindog · #7 10-10-2013, 03:53 PM

If you were victimized by Bill Mastro (you were) and want the judge to know the truth about what he's done -- or perhaps you disagree with his lawyer's contention that you weren't defrauded in his auctions because everyone knew Mastro auctions were crooked -- please let the judge know via letter.

In addition, you can also describe any negative interactions you had with Bill over the years if you desire. As a victim of Matro Auctions, I would not want the judge to believe that Bill is the kindest, most generous, religious guy in the world without him seeing the other, more accurate side, of Mastro.

The judge's address is:

Judge Ronald A. Guzman
219 South Dearborn Street
Chicago, Illinois 60604

The case name is U.S. v. Mastro, 1:12-cr-00567.

Feel free to contact me at my office if you have any questions: 212 581-1001.

drmondobueno · #8 10-10-2013, 08:38 PM

Quote:

Originally Posted by Peter_Spaeth

May he be the first of many.....

Obviously, as he intends to rat out his friends to minimize his sentence. Maybe it will spill over......

Keith Temple

GoldenAge50s · #9 10-10-2013, 03:51 PM

I have a paper cutter in my backroom. I use it every day trying to make '82 Fleer into Gems. It's an impossible task!

Leon · #10 10-10-2013, 04:05 PM

Quote:

Originally Posted by Leon

If I am not mistaking (and I could be) I don't think Joe O was in charge at the time of the grading of the Wagner.

With some newly obtained information, Joe O started with CU in the Summer of 1999. He took over running PSA in 2002. The card was graded approximately 7-8 yrs before he started with CU and over 10 yrs before he started running PSA. Joe was 19 and playing college baseball when the Wagner was graded. So those are the facts about the grading of the Wagner where Joe O is concerned. And I am told the current owner of the card is still very happy with it.

calvindog · #11 10-10-2013, 04:15 PM

Quote:

Originally Posted by Leon

And I am told the current owner of the card is still very happy with it.

I'm guessing he's be a bit happier if the card was actually an 8 and not hacked with a blade.

Leon · #12 10-10-2013, 04:19 PM

Quote:

Originally Posted by calvindog

I'm guessing he's be a bit happier if the card was actually an 8 and not hacked with a blade.

I am sure he would.

oldjudge · #13 10-10-2013, 04:46 PM

Jeff--is there still the chance of civil suits against Mastro Auctions or Legendary Auctions by shilled bidders? This ruling does not eliminate that possibility does it?

calvindog · #14 10-10-2013, 04:50 PM

Only the statute of limitations would prevent such lawsuits. I believe that is 5 years in Illinois.

atx840 · #15 10-10-2013, 04:55 PM

Kenny Cole · #16 10-10-2013, 04:58 PM

I don't know, but would assume, that Illinois law is similar to that of most jurisdictions and that the discovery rule tolls the statute of limitations until the fraud is or reasonably could have been discovered. If so, I think there's a decent argument that the statute of limitations on any fraud claim against Mastro has only recently began to run.

jcmtiger · #17 10-10-2013, 04:59 PM

I would not be surprised if more auction houses are caught up in this type of behavior. Even the auction houses everybody loves on this site. As more time passes, problems will probably surface. To much money in this hobby for it not to happen.

Joe

Rob D. · #18 10-10-2013, 07:37 PM

Quote:

Originally Posted by calvindog

Only the statute of limitations would prevent such lawsuits. I believe that is 5 years in Illinois.

I think you mean statue of limitations.

ls7plus · #19 10-12-2013, 01:40 AM

Quote:

Originally Posted by calvindog

Only the statute of limitations would prevent such lawsuits. I believe that is 5 years in Illinois.

The statute of limitations might also be tolled, if the defendant actively concealed the cause of action from the knowledge of the plaintiff.

Larry

sago · #20 10-10-2013, 05:05 PM

Quote:

Originally Posted by Leon

With some newly obtained information, Joe O started with CU in the Summer of 1999. He took over running PSA in 2002. The card was graded approximately 7-8 yrs before he started with CU and over 10 yrs before he started running PSA. Joe was 19 and playing college baseball when the Wagner was graded. So those are the facts about the grading of the Wagner where Joe O is concerned. And I am told the current owner of the card is still very happy with it.

He is the head of PSA now, and should still provide a statement. Their integrity (cough, cough) is in question. Their landmark card, and the one that started it all, should grade Authentic, instead of an "8". In fact, we have all seen cards returned due to being trimmed, so it may not receive a grade at all.

Does the fact that they are a public company compel them to issue a statement? I'm sure any financial analyst performing fundamental analysis should find this story very compelling.

D.av.id Dav.i.s.

wonkaticket · #21 10-10-2013, 08:07 PM

Quote:

Originally Posted by sago

He is the head of PSA now, and should still provide a statement. Their integrity (cough, cough) is in question. Their landmark card, and the one that started it all, should grade Authentic, instead of an "8". In fact, we have all seen cards returned due to being trimmed, so it may not receive a grade at all.

Does the fact that they are a public company compel them to issue a statement? I'm sure any financial analyst performing fundamental analysis should find this story very compelling.

D.av.id Dav.i.s.

+1

Runscott · #22 10-10-2013, 08:23 PM

Bill Mastro has rendered all of our 'x-acto knife' comments foolish. Obviously he knew more than we did about proper tools.

Sterling Sports Auctions · #23 10-10-2013, 08:30 PM

Keith Olberman even made a comment about it on the Pre-Game Show.

dshapiroSF · #24 10-11-2013, 05:41 PM

Luckey - you're spot on. Joe O would have been a sophmore in college at that point - still playing baseball.

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