What's the scoop on kryptonitecomics, seeing a lot of bad press tied to Shane, who was once one of the foremost stellar reputable dealers on this forum, including his own booster club of toner "experts" like Morgan dude and others. Didn't Morgan Dude sell some of his morgan he a purchased through Shane back through him.. wonder how they did ?
I used to bid and won a couple coins from him. I didn't win many but no complaints about anything I bought.
From what I've heard on the pcgs board, he is running a ponzi. Uses profits from one person to pay another, and is getting pretty far behind. I would not ever do any business with him, unless you want to risk losing your money.
The story was that he got behind - signed up for a PayPal line of credit to expand the business, not realizing the fees were based on sales. Reportedly, he was using current sales income to pay off previous consigners (which is basically the definition of Ponzi). When this was exposed the flow of consignments ceased and that basically left a number of people unpaid. Whether he'll eventually work it out and make good, or file bankruptcy is unclear - he's never posted or responded directly or in any of the threads (which is probably based on good advice from a lawyer).
Shane has been a friend of mine for more than 10 years. Sadly, he ran into some health issues that have continually plagued him. He will always remain my friend, and I just wish there was something I could do to help him. Chris
