The sports card market has seen a big boom in the past few years; unfortunately, some also saw it as an opportunity to scam people. That is the case for a Colorado man who reportedly made hundreds of thousands of dollars in his Michael Jordan card scheme.
According to a report about the incident, the said 82-year-old man from Colorado–named Mayo Gilbert McNeil–made over $800,000 in a fraudulent scheme where he sells and trades fake basketball cards of the Chicago Bulls legend. McNeil had allegedly been doing the scam for years now, including a sale in 2019 when he made $4,500 for a counterfeit Jordan card.
It's not only Michael Jordan cards he's selling, though, as he also reportedly traded two fake Tom Brady football cards back in 2017, per Associated Press.
“Mr. McNeil defrauded sports memorabilia collectors of more than $800,000 by intentionally misrepresenting the authenticity of the trading cards he was peddling when, in fact, they were counterfeit,” said Michael Driscoll, the FBI's assistant director in its New York office.
Fortunately for card collectors, McNeil has been arrested and charged with conspiracy to commit wire fraud. He was set to appear in a Colorado court Wednesday and then make another appearance in a New York court in a yet to be specified date.
Michael Jordan cards and other sports memorabilia continue to increase in value, so it's not a surprise why some people are taking advantage of the trend and selling counterfeit products. With that said, collectors and investors will really need to be careful when dealing, especially in online transactions.
Follow Us
Subscribe