Chicago Sports Auction House Owner Cops To Bidding Plot

Law360, Chicago (October 10, 2013, 3:00 PM EDT) -- The owner of a defunct suburban Chicago auction house pled guilty Thursday, for his part in a scheme that defrauded customers through a variety of underhanded maneuvers to drive up bid prices for sports memorabilia and other collectibles.

Former Mastro Auctions owner and CEO William Mastro, 60, admitted to one count of mail fraud at a hearing in Illinois federal court after agreeing to cooperate with prosecutors against his co-defendants, Doug Allen and Mark Theotikos, former top executives at the auction house.

Prosecutors allege that the...
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