CGC Files Lawsuit Against Employees 30 30

[wombat]

CGC seems to be allocating as little recourses as they possibly can to prevents these things from happening. From QC. Etc. They simply don't care. They will blame this on bad actors yet once again and take ZERO responsibility for having nothing in place to prevent or catch this. 

They didn't even catch that this guy stole at least 23 books. Someone had to clue them in. Just like the reholder scandal. They had no clue it was happening for years until people did the work for them. 

 

[lou_fine]

On 2/2/2024 at 8:53 AM, Iconic1s said:

It’s clear that although Nelson may be a comic book authority, he is wholly unqualified to run a half a billion dollar company.

Not quite sure where you got this half BILLION dollar figure from, but I believe that Matt is running only the much smaller CGC portion of the CCG collectibles umbrella corporation that was brought out by Blackstone and a number of smaller investors.  

Edited February 4 by lou_fine

[lou_fine]

On 2/2/2024 at 1:01 PM, Iconic1s said:

I think much of that is self inflected and was pure greed.  They announce signing upon signing upon signing… if they weren’t prepared to properly secure people’s books they should have tempered that eagerness for massive profits with a little common sense. Now we get to see how it turned out.

Totally agree with your point here as I still remember receiving emails after emails from them announcing anouncing another signing when the ink was barely dry on the last announcement, and at a time when their TAT's were running at a full year or thereabouts.  

Not sure if I'm off their mailing list or not, but don't believe I've seen the same torrent of signing announcements, if any at all, for the last little while and wonder if it has anything to do with all of these scandals which they've clearly finally clued into awhile ago?    

[ttfitz]

On 2/4/2024 at 8:37 AM, Number 6 said:

Incidentally, I know what the answers to my questions are….or at least, what the answers should be.  
 

Oh, I agree, but I've seen too many responses in threads like this one or similar where people say, "This is outrageous! I just hope my next 100 book submission goes better" to think much is going to happen.

Just look at the "Where in the world was the Quality Control at CGC" thread - over 300 pages running over a decade, and yet...

[newshane]

On 2/3/2024 at 1:30 PM, Inhuman Fiend said:

When I first saw the court filing naming the defendants yesterday (Brandon and Ayana Terrazas), I looked them both up on Social Media out of curiousity. Found 'em...but then both their profiles were deleted later in the day. Probably getting bombarded by lots of angry collectors! 

Well, if the accusations are correct, they are scum. I'd hide, too. 

[jcjames]

On 2/4/2024 at 12:37 PM, wombat said:

CGC seems to be allocating as little recourses as they possibly can to prevents these things from happening. From QC. Etc. They simply don't care. They will blame this on bad actors yet once again and take ZERO responsibility for having nothing in place to prevent or catch this. 

They didn't even catch that this guy stole at least 23 books. Someone had to clue them in. Just like the reholder scandal. They had no clue it was happening for years until people did the work for them. 

 

Sure seems like it! 

 

[newshane]

So, I'm trying to read through all the posts and all the threads. Really. I am. 

But I can't seem to find out how they were actually busted. How did they get caught? 

[Samlarn72]

On 2/4/2024 at 6:56 PM, PovertyRow said:

 

Sorry the 20+ comics that was stolen from cgc 

[AmazingComics413]

Current state of the hobby.

[jimjum12]

On 2/4/2024 at 3:24 PM, ttfitz said:

Oh, I agree, but I've seen too many responses in threads like this one or similar where people say, "This is outrageous! I just hope my next 100 book submission goes better" to think much is going to happen.

Just look at the "Where in the world was the Quality Control at CGC" thread - over 300 pages running over a decade, and yet...

Any place that does mass production will have tons of issues every month. I worked at a facility that manufactured several million plastic containers each shift, there were entire sections of the warehouse filled with pallets full of QA Hold stock. It's part of the game. As much as we collectors want this done from the loving kindness of their hearts, CGC is trying to walk the dog and make bank. Bottom line. Mistakes will be made. They're not making Faberge' Eggs in Sarasota. GOD BLESS ... 

-jimbo(a friend of jesus)

 

[newshane]

On 2/4/2024 at 1:32 PM, lizards2 said:

Suffocation in mylar.

THE LIVING ENCAPSULATION 

[MAR1979]

On 2/3/2024 at 2:30 PM, Inhuman Fiend said:

When I first saw the court filing naming the defendants yesterday (Brandon and Ayana Terrazas), I looked them both up on Social Media out of curiousity. Found 'em...but then both their profiles were deleted later in the day. Probably getting bombarded by lots of angry collectors! 

Not the only ones it seems...

 

case

Certified Guaranty Company, LLC v. Zanello

court

U.S., Southern District of New York

summary

Certified Guaranty Co., which provides authentication and grading for comic books, sued customers Ulises Zanello and Bree Riva for trademark infringement, false advertising and breach of contract on Feb. 2 in New York Southern District Court. The suit, brought by Mitchell Silberberg & Knupp, accuses the defendants of obtaining high-value comic books in holders with grade labels from the plaintiff, then swapping the comic books with lower-graded comics and reselling them, thereby deceiving customers into paying inflated prices for incorrectly-graded comic books. The plaintiff filed a similar lawsuit against two former employees on Jan. 31 in Florida Middle District Court. Counsel have not yet appeared for the defendants. The case is 1:24-cv-00797, Certified Guaranty Co. LLC v. Zanello et al.

02/02/2024

 

 

[wombat]

On 2/4/2024 at 3:41 PM, MAR1979 said:

Not the only ones it seems...

 

case

Certified Guaranty Company, LLC v. Zanello

court

U.S., Southern District of New York

summary

Certified Guaranty Co., which provides authentication and grading for comic books, sued customers Ulises Zanello and Bree Riva for trademark infringement, false advertising and breach of contract on Feb. 2 in New York Southern District Court. The suit, brought by Mitchell Silberberg & Knupp, accuses the defendants of obtaining high-value comic books in holders with grade labels from the plaintiff, then swapping the comic books with lower-graded comics and reselling them, thereby deceiving customers into paying inflated prices for incorrectly-graded comic books. The plaintiff filed a similar lawsuit against two former employees on Jan. 31 in Florida Middle District Court. Counsel have not yet appeared for the defendants. The case is 1:24-cv-00797, Certified Guaranty Co. LLC v. Zanello et al.

02/02/2024

 

 

Missing the fine print of "and resubmitted to CGC for reholdering who failed to verify in any way what they were reholdering"

[lou_fine]

On 2/4/2024 at 12:41 PM, MAR1979 said:

Not the only ones it seems...

Yes, I saw this one last night, but not sure who this was referring to since there seems to be multiple cases here. 

I was thinking that these two might just be the ones behind the original reholder scam and CGC finally got around to filing legal charges and actually naming them as a result?  But who really knows at this point.  

Edited February 4 by lou_fine

[grendel013]

On 2/4/2024 at 12:09 PM, jcjames said:

 

What a complete fustercluck! 

 

 

I'm going to have to start using that term.

[ttfitz]

On 2/4/2024 at 3:37 PM, jimjum12 said:

Any place that does mass production will have tons of issues every month.

I think a place whose business consists of receiving, individually grading, encapsulating, and shipping expensive collectibles being viewed - or acting - as "mass production" is problematic. But maybe that's just me.

[Chip Cataldo]

On 2/4/2024 at 4:27 PM, ttfitz said:

I think a place whose business consists of receiving, individually grading, encapsulating, and shipping expensive collectibles being viewed - or acting - as "mass production" is problematic. But maybe that's just me.

If they weren't like that then Blackstone never would have purchased them.

[wombat]

On 2/4/2024 at 3:37 PM, jimjum12 said:

Any place that does mass production will have tons of issues every month. I worked at a facility that manufactured several million plastic containers each shift, there were entire sections of the warehouse filled with pallets full of QA Hold stock. It's part of the game. As much as we collectors want this done from the loving kindness of their hearts, CGC is trying to walk the dog and make bank. Bottom line. Mistakes will be made. They're not making Faberge' Eggs in Sarasota. GOD BLESS ... 

-jimbo(a friend of jesus)

 

I don't think what CGC does fits any definition of mass production. 

[jimjum12]

On 2/4/2024 at 4:27 PM, ttfitz said:

I think a place whose business consists of receiving, individually grading, encapsulating, and shipping expensive collectibles being viewed - or acting - as "mass production" is problematic. But maybe that's just me.

It's just you. They've done multi-millions. Units. Over 10M I think. I guarantee they're not spending an hour on each book. I think the math will bear that out. I could be wrong, but doubt it. GOD BLESS ... 

-jimbo(a friend of jesus)

Edited February 4 by jimjum12

[FlyingDonut]

So I'm skimming through this - is it the case that the two people stole less than $30K worth of stuff and reslabbed it? My thought is that these are small time crooks who are clueless - there would be millions to be made from someone who had this kind of access and these two clowns got busted for thirty grand?