Doug Schmell cashing in his vaulted massive collecion. Poll: Is this the top?

[paperheart]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

"Behind every great fortune, there is a great crime." Balzac (probably)

[comicdonna]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

I've asked this before.

 

Has this been proven? I thought the clients were paid back. Otherwise, he would have been in jail for theft or would have a judgement against him and he will need to pay it back.

 

I'm not defending the guy at all. However, when I see such blanket statements like this FT and so far no one has produced evidence that this is a fact...I want to know more information before forming a conclusion.

 

Do you have a link or somewhere it says or proves he stole the money from his clients, bought comics with it, never paid the money back and is now profiting from it?

 

It's a huge accusation and I'd like to know where it has been proven true.

 

 

http://law.justia.com/cases/new-york/appellate-division-first-department/2006/2006-00326.html

[bluechip]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

I've asked this before.

 

Has this been proven? I thought the clients were paid back. Otherwise, he would have been in jail for theft or would have a judgement against him and he will need to pay it back.

 

I'm not defending the guy at all. However, when I see such blanket statements like this FT and so far no one has produced evidence that this is a fact...I want to know more information before forming a conclusion.

 

Do you have a link or somewhere it says or proves he stole the money from his clients, bought comics with it, never paid the money back and is now profiting from it?

 

It's a huge accusation and I'd like to know where it has been proven true.

 

 

 

I have no knowledge whatsoever of what he did or didn't do.

 

But I find it naive when people say that there must've been nothing wrong done, because otherwise there'd be jail time involved.

 

"Paying back" someone after you've misappropriated their property might help you avoid jail time, but civil laws allow for action based on "unjust enrichment" -- meaning, essentially, that if you take an old lady's money to buy something and resell it for 20X profit, she is the one who should get the profit, not you.

 

And, again I have no idea whether that occured here. But the fact that nobody did jail time for it should not be taken as proof one way or another. Then again, neither is the fact that people say one thing or another via posts on a message board rife with agendas for and against the books themselves.

 

 

 

 

 

 

[COI]

At three million dollars and 686 books that would mean the avg price would have to be $4,373 dollars each. I think that might be high. I think the 2.5 or $3,644 amount per book is closer.

 

It said he would NET 3 million, which I take to mean that they think the books will sell for much higher.

 

And as has already been said, the few major keys alone will probably be 2 million +.

[Agent 007]

I may be able to buy 1 book. So many books, I hope people don't have the cash to buy them so I can steal at least 1 with a bargain.

[Poe]

What Schmelly did...

 

"The Departmental Disciplinary Committee served respondent with a notice and statement of 48 charges alleging he violated the Code of Professional Responsibility. Charges 1 through 3 involve respondent's representation of an elderly client and his mishandling and intentional conversion of her settlement money in violation of Code of Professional Responsibility DR 1-102 (a) (4) and DR 9-102 (a) and © (4) (22 NYCRR 1200.3, 1200. 46). Charges 4 through 25 concern respondent's handling of funds belonging to 22 other clients, including allegations that he failed to maintain their funds intact and permitting his escrow account to fall below the amount of money due each of them in violation of DR 9-102 (a).

 

Charges 26 through 41 concern allegations that respondent commingled his personal funds with client funds in his escrow account in violation of DR 9-102 (a) and (b) (1). Charges 42 and 43 allege respondent failed to properly maintain required bookkeeping records in violation of DR 9-102 (d) (1) and (2). Charges 44 and 45 allege he failed to file retainer and closing statements with the Office of Court Administration in connection with clients' personal injury matters involving contingency fees as required by 22 NYCRR 603.7 and in violation of DR 1-102 (a) (5). Charges 46 and 47 allege respondent assisted his clients in evading various liens, and child support and alimony payments in violation of DR 1-102 (a) (4) and (7). Lastly, Charge 48 alleges{**27 AD3d at 26} that by engaging in the above misconduct respondent engaged in conduct that adversely reflected on his fitness to practice law in violation of DR 1-102 (a) (7)."

 

and...

 

"Respondent disbarred, and his name stricken from the roll of attorneys and counselors-at-law in the State of New York, effective February 21, 2006."

[Mmehdy]

At three million dollars and 686 books that would mean the avg price would have to be $4,373 dollars each. I think that might be high. I think the 2.5 or $3,644 amount per book is closer.

 

It said he would NET 3 million, which I take to mean that they think the books will sell for much higher.

 

And as has already been said, the few major keys alone will probably be 2 million +.

 

In order to net 3 mill he is gonna have to get at least 3.6...that seems a bit high.

[scooter99]

At three million dollars and 686 books that would mean the avg price would have to be $4,373 dollars each. I think that might be high. I think the 2.5 or $3,644 amount per book is closer.

 

It said he would NET 3 million, which I take to mean that they think the books will sell for much higher.

 

And as has already been said, the few major keys alone will probably be 2 million +.

 

In order to net 3 mill he is gonna have to get at least 3.6...that seems a bit high.

 

I seriously doubt HA will be charging Schmell a 20% commission. With the hoopla and confetti of this collection, he might be paying little to no juice.

[500Club]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

Doug and HA can't exactly put that in the press release, though...

 

'The stories I could tell you of juggling escrow accounts, scrambling to replace funds or reassure clients, all the while obtaining that missing issue or coveted upgrade would blow your mind.'

[Mark 1]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

I've asked this before.

 

Has this been proven? I thought the clients were paid back. Otherwise, he would have been in jail for theft or would have a judgement against him and he will need to pay it back.

 

I'm not defending the guy at all. However, when I see such blanket statements like this FT and so far no one has produced evidence that this is a fact...I want to know more information before forming a conclusion.

 

Do you have a link or somewhere it says or proves he stole the money from his clients, bought comics with it, never paid the money back and is now profiting from it?

 

It's a huge accusation and I'd like to know where it has been proven true.

 

 

http://law.justia.com/cases/new-york/appellate-division-first-department/2006/2006-00326.html

 

Thanks Mike. That's pretty horrible evidence of his bad decisions as an attorney.

 

But does that show "He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake. :face palm: " that FT said?

[TheShadowKnows]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

I've asked this before.

 

Has this been proven? I thought the clients were paid back. Otherwise, he would have been in jail for theft or would have a judgement against him and he will need to pay it back.

 

I'm not defending the guy at all. However, when I see such blanket statements like this FT and so far no one has produced evidence that this is a fact...I want to know more information before forming a conclusion.

 

Do you have a link or somewhere it says or proves he stole the money from his clients, bought comics with it, never paid the money back and is now profiting from it?

 

It's a huge accusation and I'd like to know where it has been proven true.

 

 

 

I believe this was mentioned before... stolen, not so.... misappropriated, definitely.

A lawyer has two accounts.One is where you put the clients money,such as a retainer.The other is your account where you transfer the clients money as you bill it out.From what ive heard he kind of cut out the middleman and just took the clients money.Right?

[fantastic_four]

Thanks Mike. That's pretty horrible evidence of his bad decisions as an attorney.

 

But does that show "He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake. :face palm: " that FT said?

 

He's exaggerating, but not by a lot. I think he was a personal injury attorney, so the funds he was holding in escrow were likely awarded in large part to cover medical expenses--it's unpleasant to go down the road of thinking about who he was withholding payments from, for how long, and what ill effects he may have had on their lives. Most likely he was screwing over doctors and hospitals who his clients owed money to...they're sort of used to getting the shaft on bills as poorer clients usually never pay and the rest of us pay larger expenses to end up covering them, so perhaps he used that vastly unfortunate and mostly lame aspect of our medical system to make himself feel better. Worst case is that some of his clients ended up not being able to undergo medical procedures due to his withholding of funds--that'd make it morally worse than actual stealing if it indeed ever happened. Hopefully he never let it get that bad.

[batman_fan]

I may be able to buy 1 book. So many books, I hope people don't have the cash to buy them so I can steal at least 1 with a bargain.

 

There will be no margins in this auction. Many board members will drive prices well above GPA. There are a ton of people who are secretly praying they can snag some books on the down low for a quick re-sale and profit.

[hockey&comicsguy]

What Schmelly did...

 

"The Departmental Disciplinary Committee served respondent with a notice and statement of 48 charges alleging he violated the Code of Professional Responsibility. Charges 1 through 3 involve respondent's representation of an elderly client and his mishandling and intentional conversion of her settlement money in violation of Code of Professional Responsibility DR 1-102 (a) (4) and DR 9-102 (a) and © (4) (22 NYCRR 1200.3, 1200. 46). Charges 4 through 25 concern respondent's handling of funds belonging to 22 other clients, including allegations that he failed to maintain their funds intact and permitting his escrow account to fall below the amount of money due each of them in violation of DR 9-102 (a).

 

Charges 26 through 41 concern allegations that respondent commingled his personal funds with client funds in his escrow account in violation of DR 9-102 (a) and (b) (1). Charges 42 and 43 allege respondent failed to properly maintain required bookkeeping records in violation of DR 9-102 (d) (1) and (2). Charges 44 and 45 allege he failed to file retainer and closing statements with the Office of Court Administration in connection with clients' personal injury matters involving contingency fees as required by 22 NYCRR 603.7 and in violation of DR 1-102 (a) (5). Charges 46 and 47 allege respondent assisted his clients in evading various liens, and child support and alimony payments in violation of DR 1-102 (a) (4) and (7). Lastly, Charge 48 alleges{**27 AD3d at 26} that by engaging in the above misconduct respondent engaged in conduct that adversely reflected on his fitness to practice law in violation of DR 1-102 (a) (7)."

 

and...

 

"Respondent disbarred, and his name stricken from the roll of attorneys and counselors-at-law in the State of New York, effective February 21, 2006."

 

Yeah, I think I'll pass on this auction. I don't need to give my money to this piece of work.

[Trev]

Comic book fanatic's prized collection to fetch a staggering $3million at auction

 

Excerpt from the article:

 

'The stories I could tell you of meeting at diners and post offices in Northern New Jersey, at office buildings and street corners in New York City to obtain that missing issue or coveted upgrade would blow your mind.

 

'My favourite has to be the 9.8 X-Men first edition. I love that whole run of comics and to own one in such perfect condition is rare.

 

'I sincerely hope the collectors who buy some of my books can enjoy them even half as much as I have.'

 

This whole thing makes me want to vomit up a fortnight's worth of dinner.

 

He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake.

 

I've asked this before.

 

Has this been proven? I thought the clients were paid back. Otherwise, he would have been in jail for theft or would have a judgement against him and he will need to pay it back.

 

I'm not defending the guy at all. However, when I see such blanket statements like this FT and so far no one has produced evidence that this is a fact...I want to know more information before forming a conclusion.

 

Do you have a link or somewhere it says or proves he stole the money from his clients, bought comics with it, never paid the money back and is now profiting from it?

 

It's a huge accusation and I'd like to know where it has been proven true.

 

 

http://law.justia.com/cases/new-york/appellate-division-first-department/2006/2006-00326.html

 

Thanks Mike. That's pretty horrible evidence of his bad decisions as an attorney.

 

But does that show "He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake. :face palm: " that FT said?

 

Does it really matter? What difference does it make? He still took money from clients -- I think that is fairly well proven.

 

Is whether that money was used to buy books is what you are using to determine whether or not to bid on books in this sale?

[Montezuma]

 

 

Thanks Mike. That's pretty horrible evidence of his bad decisions as an attorney.

 

But does that show "He paid for the books with the money stolen from an 84 year old grand-mother, for fekk's sake. :face palm: " that FT said?

 

 

In his report, the referee set forth his findings of fact and conclusions of law, and agreed with the Committee that disbarment was appropriate, citing the intentional conversion of funds of an elderly client to whom settlement proceeds were finally disbursed after almost two years and only after the client's niece threatened to report respondent to the "bar association"; a pattern of misappropriating escrow funds of 22 other clients; multiple instances of commingling personal funds with client funds; and lack of mitigation.

 

I guess you could say he paid them back

 

[Mmehdy]

Ha. Con is not gonna wave the Bp which is 19% for sure , but good chance any additional fees prob got waived. Still 20% of 3 mill is not a bad days work .

[batman_fan]

Ha. Con is not gonna wave the Bp which is 19% for sure , but good chance any additional fees prob got waived. Still 20% of 3 mill is not a bad days work .

 

Heritage negotiates fees on much lower priced items. I negotiated with them on a low 5 figure book I sold through them several years back.

[woohoo-migration]

Ha. Con is not gonna wave the Bp which is 19% for sure , but good chance any additional fees prob got waived. Still 20% of 3 mill is not a bad days work .

 

Heritage negotiates fees on much lower priced items. I negotiated with them on a low 5 figure book I sold through them several years back.

 

Your inane facts cannot deter Mighty Mitch!

[G.A.tor]

Ha. Con is not gonna wave the Bp which is 19% for sure , but good chance any additional fees prob got waived. Still 20% of 3 mill is not a bad days work .

 

Heritage negotiates fees on much lower priced items. I negotiated with them on a low 5 figure book I sold through them several years back.

 

Your inane facts cannot deter Mighty Mitch!

my guess is doug is getting a piece of the BP...single digit, but a piece none the less...