Abon coins busted (must read)

They finally got what they deserved. I have an SGS MS70 ASE with a serious nick going through a sun ray on the obverse. It's totally obvious, as is their grading everything a 70. Being kicked off ebay has got to hurt them.

 

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Kicking them off eBay is going to hurt eBay. They were a huge seller; small in relation to eBay's total bottom line, I'm sure, but not the kind of customer you kick off on a whim.

As for hurting Abon, I think they're probably already dead at this point. The principals, if they can stay out of prison, will try to start up something else; it's what such people do. But I think the raids reported yesterday were probably the death blow for this iteration of the company.

 

Why is the Secret Service involved? They do counterfeiting and presidential security not stolen property. Did a Presidential candidate get his stuff ripped off?

Yes it's true, just not exclusive. All of the grading services received invitations to bid on becoming the official grading service.

And if Abon can prove that they do have records on everything they purchased and that they followed the proper procedures for doing so the charges will probably be dropped and they will eventually come back on ebay.

 

Yessum. Odd. Now I know why.

 

The article says that there is an ongoing multi-jurisdictional wire fraud investigation ongoing, I expect that the fraud aspect, not the stolen property aspect, is the reason that the Secret Service is involved.

 

That's not a good sign... Maybe the stolen items are the least of their worries at this point... but no way to be sure.

 

Film at 11.............

 

That would be FBI jurisdiction not Secret Service. Unless the fraud involved counterfeiting.

 

I currently have around 20 SGS slabbed coins. Like everyone else here I'm no fan of them. They overgrade almost all their coins. I exchanged coins they slabbed with them over Ebay as I wanted better quality specimens than the ones received. I did about 3 mail exchanges with them. It's no surprise they banned me from bidding and buying anything with their Ebay account too.

 

Home of Abon owners searched
http://www.mansfieldnewsjournal.com.../pair-arraigned-raid-chilton-avenue/13158091/

Sounds like this isn't over yet. With the Secret Service, FBI, IRS, and the local authorities all involved it doesn't sound promising for the owners of Abon. Must be something really serious for this type of action.

 

Or Uncle Sam is REALLY broke and needed an easy target.....oh wait a minute.........

 

Sounds like the Feds have a hard 'you know what' for these guys.

 

Or maybe the various law enforcement organizations are, you know, enforcing the law.

I obviously don't know the specifics of this case. However, we've all seen what these people sell on eBay, and what the apparently-closely-related SGS puts in and prints on slabs. Under the circumstances, I'm really not inclined to think that they're innocent, honest, hard-working Americans being victimized by their tyrannical government.

 

Way too much into my statement Jeff. It was more of a crack at how broke this country is and the MO of the government to extract money by any means necessary. Sure it's legit THIS time, but just think IRS targeting folks of political dissent.

This company sucks and needs to be prosecuted.

Still can't deny that the government will be the ones to really make out, though. How many 'victims' do you think will be made whole?

 

Deleted

 

So, since there have been political abuses at the IRS, any action by any government law-enforcement agency is presumed to be corrupt? Sorry, but I don't see "prosecuting interstate fraud" as "extracting money by any means necessary".

I don't know whether the victims will be made whole, but this action will prevent the generation of future victims. That's worth quite a bit, in my opinion.

 

Only prevents it from this company for now even. It will hardly stop fraud, and likely if these guys dont do hard time they will figure another way to scam folks. Plus the folks scammed are scammable people, someone else will take advantage of them.


If you can't see how this government takes and doesn't make good use of the funds and then repeats the cycle continually then I can't help you. I am not quiet in my distrust of our government and I have long abandoned the notion of them using our money wisely.

One thing I can tell you is we didn't develop a 17 trillion dollar deficit by wise spending from our government, they don't need any additional money from me until they can figure out how to go the other direction with what they are spending.

I've already told you that this particular instance is warranted. The company is scum and I was making an overall joke about how our government is capable, not necessarily doing, but more than capable of taking money from people for trivial reasons.

Another example. Look at the corrupt police forces stealing peoples money over bogus charges. Profiling and planting 'evidence' to confiscate peoples possessions and money over drugs they put there themselves.

Google and YouTube and alternative news sites that require more than just reading a nice headline from CNN or Fox help tremendously in seeing these types of things.

 

Only you are equating the IRS as the single reason to think our government would be capable of such a thing. There are beyond multitudes of instances of our government doing something directly against the populace or intimidating us or taking our livelihoods and money.

 

Look how government stole from the people taking our money off the gold standard and then inflating the money supply. Look how government made it illegal to own gold during the depression (1933+) and for a long time afterward.