(WBBM NEWSRADIO) — Federal charges were unveiled in Chicago Thursday alleging a massive sports collectibles and memorabilia fraud scheme.
Several items were presented as having been signed by legendary athletes but were actually fakes, federal prosecutors said.
The scheme included the forged signatures of sports greats like Babe Ruth, Lou Gehrig, Honus Wagner and Cy Young, as well as fraudulent sports paintings and entertainment-related memorabilia.
Donald Henkel, 61, and Mark Henkel, 66, of Ann Arbor, Michigan allegedly bought painjtings, baseballs and baseball bats, celebrity photographs and other items for use in the scheme. Raymond Paparella, 59, of Boca Raton, Florida is accused as acting as a "straw purchaser" to help further the crimes.
The alleged fraud scheme began in 2005 and continued until 2020. Many of the forged items were sold for more than $100,000, the wire-fraud indictment states.
All three defendants pleaded not guilty in federal court, prosecutors said.
Sports memorabilia expert Michael Osacky, president of Baseball in the Attic, said this is a reminder to collectors to be careful before they buy.
“You need to be your own expert,” he tells WBBM Newsradio.
He said, for example, if you are a collector who seeks Lou Gehrig signatures, you need to become as much of an expert as a third-party authenticator.
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