Redmond Man Convicted of Wire Fraud and Conspiracy in Trading Card Scam
A man from Redmond has been found guilty of wire fraud and conspiracy by a Manhattan federal jury for his involvement in a scheme that used fake grading labels to sell sports and Pokémon trading cards at inflated prices, resulting in over $2 million in losses for buyers. The defendant, Anthony Curcio, faces a potential maximum sentence of up to 20 years in prison, with sentencing scheduled for May 13. The scheme involved falsely claiming that trading cards had received high grades from a prominent card authentication company, PSA, to increase their value in the collectibles market. Curcio and his co-defendant, Iosif Bondarchuk, sold fraudulently graded cards through various channels, including online marketplaces and in-person card shops, auctions, and shows. They used fake names and false identities to conceal their activities and attempted to resell the cards even after being confronted with evidence of the false grades.
The indictment details how Curcio and Bondarchuk misrepresented the grades of various trading cards, including a 1986 Fleer Michael Jordan card, Pokémon cards like Venusaur and Charizard, a Stephen Curry rookie card, and a card featuring Larry Bird, Julius Erving, and Magic Johnson. They placed the cards in tamper-resistant plastic cases resembling those used by PSA and added fraudulent labels, barcodes, and certification numbers to make them appear legitimate. Despite complaints and demands for refunds from buyers, the defendants continued their fraudulent activities, sometimes using aliases and misleading information to deceive victims. They even went as far as ordering specialized tools and materials online to create forged card cases and labels. The scheme resulted in significant financial losses for buyers, with some victims being compensated by online marketplaces for their losses.
Curcio's sentencing is pending, and he is expected to return to court in May to face the consequences of his actions. The case serves as a cautionary tale about the risks of fraudulent practices in the collectibles market and highlights the importance of verifying the authenticity of trading cards before making purchases. The defendants' elaborate scheme to deceive buyers and inflate the value of trading cards underscores the need for vigilance and due diligence when engaging in collectibles transactions.