to trading card companies. Charges stem from four-year investigation
BY Michael O'keeffe
NEW YORK DAILY NEWS
Three sports memorabilia dealers accused of selling bogus game-used jerseys to trading card companies and other collectors pleaded guilty to mail fraud on Monday in Illinois federal court.
A statement released by Patrick Fitzgerald, the U.S. Attorney for the Northern District of Illinois, says Bernard Gernay of Howell, N.J., Bradley Horne of Sunset, S.C., and Jarrod Oldridge of Las Vegas acknowledged that they altered jerseys obtained from retail outlets and other sources to make them appear to be used in games by pro athletes, substantially increasing their value.
The charges stem from a four-year investigation into fraud in the sports memorabilia industry that has been conducted by the Chicago FBI and other federal agencies. Executives from some of the most prominent companies in sports memorabilia – including Legendary Auctions, Grey Flannel, Professional Sports Authenticators and now-defunct Mastro Auctions – have been questioned at sports memorabilia shows in recent years.
Plea agreements filed in federal court on Monday say Gernay, Horne and Oldridge have agreed to provide information to investigators and testify in civil or criminal proceedings – which may mean that the dealers will be used by federal prosecutors as witnesses in cases against other memorabilia industry executives.
Sentencing is scheduled for May 2, 2012. The maximum prison sentence for mail fraud is 20 years.
Oldridge is the owner of JO Sports Co., a Las Vegas company that has contracts with the Jets and several other teams to sell jerseys, helmets, game balls and other memorabilia that were used in NFL games.
For the rest of the story http://www.nydailynews.com/sports/i-team/memorabilia-dealers-plead-guilty-selling-counterfeit-game-used-jerseys-trading-card-companies-article-1.980965?pgno=1
NEW YORK DAILY NEWS
Monday, November 21 2011
http://www.sportscollectorsdaily.com/fourth-dealer-pleads-guilty-to-mail-fraud-charges/
Sports Collectors Daily.com
11/25/2011
It would be interesting to know what items were fraudulent and which manufacturers purchased them. Really makes you wonder whether any of the stuff in what you own is real? It also sounds like these guys will testify and probably get reduced sentences for cooperating. I sure as heck hope not. They ought to have to forfeit their assets illegally gained from these sales and those funds ought to be put randomly into packs of cards.
Been waiting for this shoe to drop for quite some time..knew it would eventually come...especially for vintage players.
Gross
what players though.. dont you wish it mentioned that.. and to what companies..
How about Topps, UD and Panini give us some full disclosure of what they bought from these fine upstanding folks..
One of them was JO Sports part of the problem is teams shipped jerseys to these companies such as JO in a box and didnt say which were game worn and werent so JO got a little ahead of themselves
For more info on this story http://www.sportscollectorsdaily.com/editors-blog-where-did-those-fake-jerseys-go/
Sports Collectors Daily
11/23/2011
Cojo is still actively selling on facebook and their website
Powered by Invision Power Board (http://www.invisionboard.com)
© Invision Power Services (http://www.invisionpower.com)