OT: FBI investigates Heritage auction item

KentuckyJ

FBI investigates Heritage auction item stolen from Kennedy family?

ziggy29

Sounds like the story of the 1933 Saint.

rgCoinGuy

<< <i>Sounds like the story of the 1933 Saint. >>




From what has been reported, I don't think it should have gone back to the Kennedy's. Neat story though, and good to see Heritage at least did the right thing.

CoinCrazyPA

I agree, if I read it right the original owner who received the boxes is dead. So the trail is dead. Does anyone think there should be a Prosecution over this?

notwilight

<< <i>

<< <i>Sounds like the story of the 1933 Saint. >>




From what has been reported, I don't think it should have gone back to the Kennedy's. Neat story though, and good to see Heritage at least did the right thing. >>




I agree with your assessment of the facts presented but don't understand how Heritage concluded that giving it (and the gloves) back to the Kennedy's was the right thing to do. --jerry

CarsonCityGold

<< <i>Greg Rohan, president of Heritage, said his company requires consigners to stipulate in writing that they have full legal title to the merchandise and the right to sell it.

Rohan said he is happy that his company "protected that item" for three years. Goodkin kept asking for its return, he said.
>>



I'm certainly no attorney, but what gives Rohan/Heritage the right to not return an item to a consigner for three years while the FBI gets a search warrant?

Wolf359

I think the FBI wins here.

SaorAlba

The alleged person that is the source of the lettre said to his son that Ethel Kennedy gave it to him in a box of stuff, she is still alive, how about confirming this with her?

oreville

SaorAlba:



<< <i> The alleged person that is the source of the lettre said to his son that Ethel Kennedy gave it to him in a box of stuff, she is still alive, how about confirming this with her? >>



That is no fun being so correct here. Better to speculate and do all kinds of innuendos.

telephoto1

Heritage has other things to worry about as well...like getting caught creating fictitious bidders... check this story out.


RICO Charges Aimed at Dallas Auction House and Execs, Says Mark Senter

Placid

<< <i>Heritage has other things to worry about as well...like getting caught creating fictitious bidders... check this story out.


RICO Charges Aimed at Dallas Auction House and Execs, Says Mark Senter >>



I guess Heritage would have to pay the winners back and the consigner would be free to keep the extra money?

tradedollarnut

The suit charges the defendants used a secret,
undisclosed shill, or fictitious bidder, at auctions, so winning bidders paid
inflated prices.

Defendants in the suit are Gregory J. Rohan; Steve Ivy; James L. Halperin;
Marc D. Emory; Paul R. Minshull; Dagmar Byers; and their company, Heritage
Auctions, Inc.

Gary Hendershott, an expert in Civil War memorabilia, was joined in the suit
by Chris Kortlander, a prominent Montana businessman. Kortlander alleges that
he "consigned thousands of individual historical manuscripts and photographs
to Heritage," but was deprived of profit because of Heritage's fraudulent and
deceptive acts

Maybe it's just me, but aren't those two allegations completely at odds with each other?

rgCoinGuy

Yes, there must be more to it ( or he is just nuts). Maybe this part is where he is trying to claim he was wronged:

"The practice overstates Heritage's ability to effectively get the best prices for items it auctions."

Perhaps he sold and they didn't shill his auction, so he didn't get what he was expecting. Perhaps he didn't have a reserve and took a bath based on Heritage's claims for what they could get for him.

roadrunner

Mark Senter, attorney for the plaintiff, charged that "the Heritage defendants use N. P. Gresham, a fake bidder, to rip-off legitimate bidders."

It's a fine line between the house bidding on its own account vs. shill bidding. Has anyone considered that N.P. Grisham might be Bongo Bongo?

roadrunner

telephoto1

"In 1989 the FTC ordered Heritage to pay $1.2 million in restitution to victims of
Heritage and Halperin who had paid inflated prices for coins. Forbes magazine
reported that on another occasion, an arbitration panel ruled that Heritage
must pay $23 million to another plaintiff...."

I vaguely remember the $1.2 mil story from '89... but $23 million to one guy?!?! What the heck did that guy have? Does anyone know any further info about that one?

joebb21

found this

edited to add:

wow I dont even know how I found this. did a search on google and it came up with this. while the link goes to their website i dont know how to find it otherwise

joebb21

now after reading the piece it seems forbes wrote the article. Very interesting on many counts and something that cannot be turned blindly to-

telephoto1

Interesting how Jim spins everything he can and ignores the factual parts of the article...

Wolf359

<< <i>Heritage has other things to worry about as well...like getting caught creating fictitious bidders... check this story out.


RICO Charges Aimed at Dallas Auction House and Execs, Says Mark Senter >>



Just another lawsuit with a screaming lawyer. It's a Civil matter where they use inflammatory language that claims to have criminal all over it. Then have some joker issues a press release because Heritage hasn't caved yet to the blackmail. And it is blackmail.

telephoto1

Hard to call it blackmail in my book, when Jim H. has already admitted the shill bidder N.P. Gresham doesn't exist... sounds more like they got caught.

Halfhunter06

dont like the story, the K's have no proof it was ever stolen. It seems all they have to do is make a call and the FBI bows to thier wishes..if we tried that nothing would happen