This article serves as an update to a feature published one year ago (see Latest Version of New York State Assembly Bill A01730: Seeks Prohibition of Auction House “Sham” Bids Without Disclosure). [Read more…]
Auction Fraud at Center of FBI & Internet Crime Complaint Center (IC3) Annual Report for 2009
The Federal Bureau of Investigation (FBI) and the Internet Crime Complaint Center (IC3) issued their Annual Report a few months ago. Among the highlights is that auction fraud – a frequent topic in the hobby of collecting original television and movie props and wardrobe – was reported to make up one of four complaints made to the organization. [Read more…]
Auction Fraud at Center of FBI & Internet Crime Complaint Center (IC3) Annual Report for 2008
The Federal Bureau of Investigation (FBI) and the Internet Crime Complaint Center (IC3) issued their Annual Report a few months ago. Among the highlights is that auction fraud – a frequent topic in the hobby of collecting original television and movie props and wardrobe – was reported to make up one of four complaints made to the organization. [Read more…]
Mastro Auctions Closes In Midst Of FBI Investigation Into Shill Bidding & Fraud Allegations
Mastro Auctions, the largest sports memorabilia auction house, has closed amid an FBI fraud investigation. Three Mastro executives have purchased the company’s assets and will launch a new company called Legendary Auctions. Part of the investigation by law enforcement is focused on charges of “shill bidding”. [Read more…]
Latest Version of New York State Assembly Bill A01730: Seeks Prohibition of Auction House “Sham” Bids Without Disclosure
An article published in 2007 (see Auction House Buying Considerations, Part II: Chandelier Bid (“Sham Bidding”) Legislation) discussed proposed legislation related to “sham” or “chandelier” bids, described by a New York legislator as “chicanery perpetrated by auction houses,” with auction house Sotheby’s opposed to the legislation. [Read more…]
FTC Consumer Alert: How To Shop Wisely
Rick Spector of Stairway To The Stars sent me a link to an interesting article about an FTC Consumer Alert published on the Federal Trade Commission website this past April, which is worth reading and consideration. Though this is related to collectible antiques, it touches on many of the same issues we face as collectors of original props and wardrobe. [Read more…]
Internet Crime Complaint Center (IC3) Releases 2007 Report
The Internet Crime Complaint Center (IC3) released it’s 2007 Internet Crime Report last week.
The IC3 is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA). Per their webpage: [Read more…]
U.S. Department of Justice Announces Indictments in “$5 Million Dollar International Fraud Scheme”
Breaking news in the art world follows an announcement by the U.S. Department of Justice involving indictments against seven defendants in their alleged roles in selling $5 million in counterfeit art prints.
Reuters reports that (“Thousands Stuck with Fake Art Prints – U.S. Prosecutor“) that “[a] ring of art counterfeiters has sold thousands of prints since 1999 bearing the forged signatures of Picasso, Miro, Dali and other famous artists to buyers around the world”. U.S. Attorney Patrick Fitzgerald stating that “[t]housands of people will learn they… bought a fake”. [Read more…]