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Was Matt Nelson lying to the community when he said that employees were not involved in reholdering?
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Started by Sam T,

49 posts in this topic

Sam T

Sam T

Posted
Posted (edited)

It seems like if CGC was ready to file a lawsuit this week, that they must have already been investigating these folks 2 weeks ago when Matt Nelson gave that interview with 9.9 and Davengers. It seems like the only two possibilities:

 

 

1. Matt Nelson was deliberately misleading the community

2. Matt Nelson has no idea what his company is actually doing. 

 

Both seem to be really really bad for CGC going forward. Their product ain't a bunch of plastic cases. CGC's product is their reputation. Did Matt Nelson just torch the companies reputation?

Edited by Sam T
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Sam T

Sam T

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On 2/2/2024 at 2:50 PM, Mr. Zipper said:

Aren't they two different situations? 

Only according to CGC. When people started finding the first incontrovertible evidence of reholdering, they immediately started saying that this problem is much bigger than a single dealer and that an inside man was likely to be involved. CGC then went on a media blitz trying to frame the entire issue around a single bad dealer. CGC wants these to be separate issues but in reality there's only one problem:

 

The community can't really trust that CGC'd book bought from a stranger is the same book as the label. The community does not see each individual scammer as a separate issue. The credibility of CGC's slabs is the only problem that CGC is facing. I mean it's a very simply issue here. Removing and creating false context doesn't really change anything.

 

Matt Nelson went out of his way to convince the community that CGC employees were not fraudulently reholdering. Two weeks later his company is saying that employees have been committing fraud all along. That can't really be defended. I think Nelson might get the book behind his poor media literacy. Lying on the internet when court documents say otherwise is just corny and weird.

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Sam T

Sam T

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On 2/2/2024 at 3:07 PM, topcat54 said:

These are 2 different cases

People were noticing a lot of books online with labels that didn't match and then the community said either they're cracking open and resealing slabs or there's an inside man.

 

CGC's statements on the issue are the only thing separating these cases from each other. The community here is talking about a single issue:

 

Can we trust the label on a slab when we buy it from a 3rd party or not. 

 

Matt Nelson is trying to turn one very large problem in a bunch of smaller problems that the company can sweep under the rug. 

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Sam T

Sam T

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On 2/2/2024 at 3:09 PM, workingdog said:

This.  And neither does Blackstone.

This should be everyone's biggest fear. This whole thing kinda feels like an example of "loss harvesting". Blackstone over pays for this asset, then they tank the value with a negative-engagment marketing campaign and get to claim massive losses against any profits they have from their other businesses.

 

I think CGC is actually more valuable to Blackstone if it's broken and that's very VERY bad for people who think their slabs will be valuable in the long run. 

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Sam T

Sam T

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On 2/2/2024 at 3:15 PM, topcat54 said:

 

Come on...it's 100% impossible to get meaningful information out of a 20 page thread.

 

Most of the replies don't even contain a complete thought. Even if there's real information in there, it's surrounded by spam. Please copy and paste any information you think is applicable here and I'll check it out but trying to get me to read a whole bunch of nonsense because it MIGHT contain information doesn't really seem reasonable.

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newshane

newshane

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Could someone please give me the Cliffnotes version? 

2 different cases? Please explain? 

EDIT: Ahh. So there was an outsider scheme...AND an insider scheme? wow! 

Edited by newshane
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Sam T

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On 2/2/2024 at 3:27 PM, newshane said:

2 different cases? Please explain?

There might be two cases but to the average collector there's still only 1 problem.

We simply cannot trust a slab to be the same book on the label. That's it. The massive portion of the community was suggesting that CGC had a fraudster in the company from the very first day that SwapGate was talked about. CGC made statements declaring that the problem was a single crooked dealer and there was no inside man. The "two separate issues" narrative is only true from CGC's perspective after they told the community there was no inside man. Now that statement doesn't really seem intellectually defendable.

Matt Nelson lied to the comics community.

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Mr. Zipper

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On 2/2/2024 at 3:27 PM, newshane said:

Could someone please give me the Cliffnotes version? 

2 different cases? Please explain? 

EDIT: Ahh. So there was an outsider scheme...AND an insider scheme? wow! 

Crisis on Infinite Earths #1: Outsiders figure out a way to swap inner well of lower grade book into a CGC case of a higher graded book. Submit for reholdering and end up with a new case from CGC at the higher grade.

Crisis on Infinite Earths #2: Two CGC employees steal customer books, submit as their own and sell on eBay. They also copied legit CGC labels and inserted into slabs with lower grade books. 

 

Matt Nelson was interviewed and commenting on Crisis #1 and stated insiders were not involved. The OP here has issued with that, even though they are two different situations.

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newshane

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"Tamper free cases." 

lol 

I just see lawsuit after lawsuit here...

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newshane

newshane

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This is what happens when you put profit and speed above quality of product and service. 

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newshane

newshane

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On 2/2/2024 at 2:56 PM, KCOComics said:

In fairness from 2020 - 2023 they didn't prioritize speed over anything.

But agree with the rest!

 

Just seems like they went down the toilet since they sold out to Blackstone...the beginning of the end was the mass hiring spree a few years back. 

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