A memorabilia company that sold celebrity memorabilia even though there were doubts about the authenticity of some of these items is under investigation by federal prosecutors.  The memorabilia was auctioned by Mastro Auctions, a successful sports memorabilia auction house.  The company is currently shut down.

According to federal prosecutors, the company improperly inflated auction prices for some merchandise, including baseball cards.  The company also sold hair that was advertised as belonging to Elvis Presley, even though there were doubts about the authenticity of the item.

There were several ways in which the auction company fraudulently boosted the value of some of the items that it auctioned off.  For instance, in one case, it failed to make it clear to potential buyers that a 100-year-old Honus Wagner T-206 baseball card had been modified.  If the company had released information that the card had been altered, it would have reduced the value of the card.  There is no information about the value of this particular baseball card, but Honus Wagner baseball cards are highly in demand, and are some of the rarest cards around. Other Honus Wagner baseball cards have fetched as much as $1 million in auction.

Even more daring was the company's fraud when it came to Elvis Presley memorabilia.  The company auctioned some hairs as belonging to Elvis Presley, even though the DNA tests that were conducted on the hairs were not conclusive.

The operators of Mastro Auctions are facing a number of charges of mail fraud.  This is a serious federal crime, and if convicted, these defendants face a prison term of up to 20 years.