Two Men Charged in $2 Million Scheme to Defraud Collectors

by Frank McDougall
in News
on 30 May 2024

Authorities in New York have charged two men from Washington in connection with a fraudulent scheme that targeted sports and Pokémon card collectors. The individuals, Anthony Curcio and Iosif Bondarchuk, are accused of defrauding victims out of $2 million by providing them with fake high-grade ratings for the collectible cards.

Over a period of two years, Curcio and Bondarchuk allegedly inflated the prices of popular cards featuring athletes like Michael Jordan, Tom Brady, and valuable Pokémon characters. By falsely claiming that a genuine card authentication site had given low- or mid-grade cards higher rankings, they were able to deceive collectors into paying significantly more than the cards were worth.

The pair sold the cards in various ways, including at card shows, auctions, and collectibles stores. When victims became suspicious and raised complaints, Curcio and Bondarchuk reportedly feigned ignorance and issued refunds before attempting to resell the same cards to new victims. They even went as far as using fake identities and different cellphone numbers to avoid detection.

The indictment against Curcio and Bondarchuk alleges that they engaged in deceptive practices, including the creation of a fake business card and a false LinkedIn profile to further deceive potential victims. The scheme ultimately resulted in $2 million in losses for the defrauded collectors.

FBI Assistant Director in Charge, James Smith, emphasized the impact this scheme has had on both collectors and the reputation of a legitimate authentication company. He vowed to continue investigating fraudulent behavior and those who seek to exploit the trust of companies and consumers.

If convicted, Curcio and Bondarchuk each face up to 20 years in prison for conspiracy to commit wire fraud and wire fraud charges. The case highlights the importance of vigilance when engaging in collectible card trading and the need for consumers to exercise caution when making such valuable purchases.

Additional facts:

1. The fraudulent scheme targeted both sports and Pokémon card collectors.
2. Over a period of two years, the pair inflated the prices of popular cards featuring athletes like Michael Jordan and Tom Brady, as well as valuable Pokémon characters.
3. They falsely claimed that a genuine card authentication site had given low- or mid-grade cards higher rankings to deceive collectors into paying more.
4. Curcio and Bondarchuk sold the cards at card shows, auctions, and collectibles stores.
5. They used fake identities and different cellphone numbers to avoid detection.
6. They created a fake business card and a false LinkedIn profile to deceive potential victims.
7. The scheme resulted in $2 million in losses for the defrauded collectors.

Key questions:

1. How did Curcio and Bondarchuk inflate the prices of the collectible cards?
2. What measures did they take to deceive collectors and avoid detection?
3. How did collectors become suspicious and raise complaints?
4. What steps did the authorities take to investigate and charge the individuals?

Key challenges or controversies:

1. The impact on the reputation of the legitimate authentication company involved in the scheme.
2. The difficulty faced by collectors in determining the authenticity and value of collectible cards.
3. The need for consumers to exercise caution and vigilance when engaging in collectible card trading.

Advantages and disadvantages:

Advantages:
– By charging the individuals involved in the fraudulent scheme, the authorities aim to deter others from engaging in similar activities.
– The indictment and prosecution can help protect collectors and prevent further losses.

Disadvantages:
– Despite the charges, it may be challenging to recover the full amount of the losses for the defrauded collectors.
– The scheme highlights the need for increased awareness and education among collectors to avoid falling victim to similar fraudulent activities.