Today's Wash. Post has major piece re the BB card fraud

drcy · #1 07-22-2019, 06:16 PM

Though it is kind of funny if Brent said "Uh oh. I'm in such big trouble that I'd better get El Chapo's lawyer."

Though, obviously, Jeffrey has knowledge of this particular hobby, which it seems is what one would want for a lawyer on either side. You don't want to hire a lawyer who collects beanie babies or funky earrings-- totally different law. I'm sure Brent has also gone into this knowing that Jeffrey is a dog person ("Betsy, we can't chance it. Hide the cat! Oh, shoot, the closet's full. Call it Fido and maybe he won't notice.")

bnorth · #2 07-22-2019, 06:57 PM

Quote:

Originally Posted by drcy

Though it is kind of funny if Brent said "Uh oh. I'm in such big trouble that I'd better get El Chapo's lawyer."

Though, obviously, Jeffrey has knowledge of this particular hobby, which it seems is what one would want for a lawyer on either side. You don't want to hire a lawyer who collects beanie babies or funky earrings-- totally different law. I'm sure Brent has also gone into this knowing that Jeffrey is a dog person ("Betsy, we can't chance it. Hide the cat! Oh, shoot, the closet's full. Call it Fido and maybe he won't notice.")

That is funny. We actually did that about 30 years ago. A friend had to stay with his brother for a while. The brother hated cats so we called the cat Spot and trained him to fetch.

toledo_mudhen · #3 07-23-2019, 03:42 AM

Quote:

Originally Posted by drcy

Though it is kind of funny if Brent said "Uh oh. I'm in such big trouble that I'd better get El Chapo's lawyer."

Though, obviously, Jeffrey has knowledge of this particular hobby, which it seems is what one would want for a lawyer on either side. You don't want to hire a lawyer who collects beanie babies or funky earrings-- totally different law. I'm sure Brent has also gone into this knowing that Jeffrey is a dog person ("Betsy, we can't chance it. Hide the cat! Oh, shoot, the closet's full. Call it Fido and maybe he won't notice.")

Whats wrong with Funky Earrings?

Aquarian Sports Cards · #4 07-23-2019, 05:36 AM

Another concern is that there have been issues with items PWCC has listed since the original scandal. I assume it hasn't been overwhelming, but it has happened, and their response didn't exactly demonstrate their supposed reform.

Final concern (until I think of another one) is what about their long history of shill bidding and price manipulation. As their advocate obviously you are not volunteering other concerns to the FBI, but the scope of their bad dealings goes far beyond the selling of doctored cards. They basically conspired to manipulate an entire market. If this had been any form of securities (which they wanted to turn cards into!) their would be little question about the fate of the company.

Johnny630 · #5 07-23-2019, 06:25 AM

Quote:

Originally Posted by Aquarian Sports Cards

Another concern is that there have been issues with items PWCC has listed since the original scandal. I assume it hasn't been overwhelming, but it has happened, and their response didn't exactly demonstrate their supposed reform.

Final concern (until I think of another one) is what about their long history of shill bidding and price manipulation. As their advocate obviously you are not volunteering other concerns to the FBI, but the scope of their bad dealings goes far beyond the selling of doctored cards. They basically conspired to manipulate an entire market. If this had been any form of securities (which they wanted to turn cards into!) their would be little question about the fate of the company.

Scott but it isn’t a form of a security, you’re absolutely correct he wanted you to believe The graded high end cards in his auction we’re investment pieces that only go up....but that’s just his opinion. Maybe he should have had a disclaimer like you hear on investment shows. I never took what he said as investment advise...he is a salesman just has a annuity broker is a salesman.

He isn’t a fiduciary....as you know there are zero ethics and rules in this industry. It’s snake oil for for the most part all up to the buyer....again let the market dictate....to many emotions and not enough brains from collectors. When collecting meaning lower value stuff less brain is needed emotion is fine...when collecting with high thousand dollar cards emotion has to go out the window....it’s all brain. Many lost sight of this and bought into his marketing.

His Marketing, use that word lightly, others call manipulation, I’ll stick with Marketing, It was bull S++t.....however it’s just his opinion, it’s up to the market to decided wether it’s a bunch of crap or the real deal.......he obviously duped many many people as marketing his graded cards as investment vehicles.

Putting emotions all aside ......all I can say his don’t buy from the guy or consign to him....

Aquarian Sports Cards · #6 07-23-2019, 06:32 AM

He can call things what he likes, his attempt to equate them to securities isn't what I found questionable, that IS marketing and he can use all the hyperbole he likes. It's his obvious manipulation of the prices, to a degree that Mastro didn't even aspire to that may go unpunished that is my concern.

I was just making the interesting side point that if they were securities, as which he wanted people to think of them, he would be in a LOT bigger trouble, and making some people whole might mitigate that, but it wouldn't eliminate it.

Johnny630 · #7 07-23-2019, 06:41 AM

Quote:

Originally Posted by Aquarian Sports Cards

He can call things what he likes, his attempt to equate them to securities isn't what I found questionable, that IS marketing and he can use all the hyperbole he likes. It's his obvious manipulation of the prices, to a degree that Mastro didn't even aspire to that may go unpunished that is my concern.

I was just making the interesting side point that if they were securities, as which he wanted people to think of them, he would be in a LOT bigger trouble, and making some people whole might mitigate that, but it wouldn't eliminate it.

I agree with the your last paragraph it is interesting.

Obvious Manipulation you state, are you referencing Shilling ? If so I didn�t that it was illegal depending upon which state you were located in?

Peter_Spaeth · #8 07-23-2019, 06:49 AM

Quote:

Originally Posted by Johnny630

I agree with the your last paragraph it is interesting.

Obvious Manipulation you state, are you referencing Shilling ? If so I didn�t that it was illegal depending upon which state you were located in?

Did you read the thread I posted last night on sales reported by PWCC but not in the ebay database?

Aquarian Sports Cards · #9 07-23-2019, 08:34 AM

Quote:

Originally Posted by Johnny630

I agree with the your last paragraph it is interesting.

Obvious Manipulation you state, are you referencing Shilling ? If so I didn�t that it was illegal depending upon which state you were located in?

It's a weird situation. Shilling in and of itself, if the items are paid for, is not illegal. But coordinating with others to drive up the price while assuring them they either won't win, or won't have to pay if they win is illegal. Mastro Shilled with insider knowledge of the prices and there are similarities to what appears to have been going on with PWCC.

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