They were once the largest auction company in the sports memorabilia business, delivering catalogs with millions of dollars worth of high-end items multiple times per year. It all came crashing down several years ago amid charges of shill bidding and fraud. The fall of the company and its founder, Bill Mastro, is the subject of a new episode of American Greed, a long-running … [Read more...]
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Mastro Released from Federal Prison Camp
Former Mastro Auctions CEO Bill Mastro was released from the federal prison camp at Pekin, IL last month. According to the Federal Bureau of Prisons, Mastro would have served about five months of a 20-month sentence handed down last August, two years after he admitted to various types of fraud from 2002-2009 including an ongoing shill bidding scheme. … [Read more...]
Rogers Pleads Guilty to Fraud Charges; Could See Lengthy Prison Sentence
Creating fake sports memorabilia and phony documents could send John Rogers to prison for several years. Rogers, 44, of North Little Rock, AR, admitted in federal court Monday that he conducted a fraud scheme using forged documents and misrepresented collectibles, including a doctored Heisman Trophy and fake baseball cards that he used as collateral on loans. … [Read more...]
Conlon Photo Profits Distributed Among Rogers’ Creditors
Proceeds from the sale of the Charles Conlon photo archive are being divvied among creditors of the man who once owned them, Arkansas sports memorabilia dealer and photo archivist John Rogers. The collection was sold for nearly $1.8 million by Heritage Auctions last year to help settle at least some of Rogers’ massive debt. A settlement was reached earlier this … [Read more...]
The Year in Sports Collecting: 2016 an Eventful Ride
The longest of long holiday weekends has arrived with the duty of closing out one year and launching the next. Not much happens in the hobby during this time of year, but after all that went down in 2016, a little downtime isn’t a bad thing. No matter what end of this multi-pronged industry/hobby/business you may call home, there was news. Comings and … [Read more...]
Theotikos Begins Federal Prison Sentence
Former Mastro Auctions Vice President Mark Theotikos has begun serving his prison sentence for mail fraud. Theotikos was assigned to the federal penitentiary in Marion, IL, just over 300 miles south of the company’s former offices in the Chicago area. He is one of approximately 206 inmates at a minimum security camp, located next to the medium security prison that … [Read more...]
Third Former Mastro Auctions Rep Sentenced
A third member of the now defunct Mastro Auctions team has been sentenced for his role in a long-running shill bid scheme. Mark Theotikos, 55, was sentenced to 12 months and one day in federal prison on Tuesday. His former bosses, Bill Mastro and Doug Allen, are already serving time. Last week, attorneys for Theotikos had asked for probation while U. S. Attorney Zachary … [Read more...]
Allen Begins Serving Prison Sentence
Former Mastro Auctions executive Doug Allen began serving his federal prison sentence on Tuesday. Allen, who pleaded guilty to wire fraud in connection with shill bidding and other illegal activity that took place inside the Chicago-based company over a period of several years, is in the Federal Correctional Institution at Morgantown, WV. FCI Morgantown is an … [Read more...]
Transcript Reveals Details of Allen’s Sentencing
It will likely be the year 2020 when former Mastro Auctions executive Doug Allen walks out of whatever federal prison will be his home beginning on May 9. Allen, sentenced in U.S. District Court last week to 57 months, could have more than six months shaved off his sentence for good behavior, but it’ll still be a long stay. It's also one that could have been cut, perhaps in … [Read more...]
Doug Allen Sentenced to 57 Months in Federal Prison
Legendary Auctions President and former Mastro Auctions executive Doug Allen was sentenced to nearly five years in federal prison Monday morning. Judge Ronald Guzman concurred with the recommendation filed by prosecutors last week in the long-running case against one of several Mastro officials. Under federal sentencing guidelines, they could have asked for a longer sentence … [Read more...]
