Fake PSA Grades, Real Prison Time:
- Animation America
- Feb 3
- 3 min read
$2 Million Trading Card Fraud Ends in Conviction.
The trading card boom has created big money opportunities — and unfortunately, big-time fraud. This week, one high-dollar scam caught up with the people behind it.
A Washington state man has been convicted for orchestrating a scheme that unloaded a Michael Jordan rookie card, along with other sports and Pokémon cards, onto unsuspecting buyers — ultimately costing collectors around $2 million.
Federal prosecutors say Anthony Curcio, 45, of Redmond, built a business around deception. On Wednesday, he was found guilty of conspiracy to commit wire fraud and wire fraud after selling cards that appeared to carry legitimate PSA grades but were actually labeled with fake grading information.
The verdict came in Manhattan federal court following a 2½-day trial before U.S. District Judge Ronnie Abrams.
A Two-Year Scheme Targeting Collectors
Curcio didn’t operate alone. He and Losif Bondarchuk, 38, of Lake Stevens, Washington, were arrested on May 23, 2024. Bondarchuk has already pleaded guilty to one count of conspiracy to commit wire fraud and one count of wire fraud.
Prosecutors said the operation ran from 2022 through May 2024, during which the pair sold sports and Pokémon cards at inflated prices. The alleged tactic was simple but effective: make lower-value cards look like elite investments.
The men allegedly misled buyers by falsely advertising the condition of “numerous” trading cards. According to prosecutors, Curcio took cards that were either ungraded or carried lower grades and attached fake labels showing higher PSA grades, dramatically boosting their market value.
The Michael Jordan Rookie at the Center
One of the biggest examples involved one of the most iconic cards in the hobby: the 1986 Fleer rookie card of Michael Jordan.
Prosecutors said Curcio and Bondarchuk presented the card as a gem mint-level piece and listed it for $171,000, eventually selling it online in May 2022 to a Manhattan-based marketplace.
This Michael Jordan Fleer rookie card offered for sale turned out to be a fraud.
Authorities say Curcio focused heavily on vintage rookie cards — especially Jordan — because PSA 9 and PSA 10 copies can command six-figure prices. By faking grades, the cards could be positioned as blue-chip investments rather than mid-tier collectibles.
The scheme didn’t stop with Jordan. Prosecutors said the men also attempted to sell a 2009 Topps rookie card of Stephen Curry as a PSA 10, along with a 1980 Topps Larry Bird–Magic Johnson rookie card.
A Pattern of Reselling the Same Cards
According to prosecutors, Curcio tried to shield himself by using Bondarchuk as a front man and adopting fake identities. But what stands out is how the cards allegedly cycled through victims.
When buyers discovered the cards were not legitimate and confronted him, Curcio would issue refunds, take back the cards, and then sell them again to new collectors.
Court documents say he even tried to pass off a Fleer Jordan rookie three separate times, each time using a different forged grade.
A Message From Federal Prosecutors
The case highlights just how vulnerable the modern collectibles market can be — especially when third-party grading is a major driver of value.
“Millions of Americans participate in our collectibles markets, and they should be free from fraud and manipulations,” U.S. Attorney Jay Clayton stated. “Anthony Curcio now faces years in prison, and his conviction is a cautionary tale for those who would abuse the collectibles markets. Our office is dedicated to ensuring that markets of all kinds, including collectibles markets, are safe from fraudsters.
“Anthony Curcio tried to cover his tracks and hide what he had done, but thanks to our law enforcement partners and the many victims who came forward, he has now been convicted of serious federal crimes.”
What Happens Next
KIRO-TV reported that Curcio is scheduled to be sentenced May 13. Both Curcio and Bondarchuk face potential sentences of up to 20 years in prison per count.
For collectors, the case is a sharp reminder: grading labels drive value, but trust is everything. When that trust is faked, the consequences can reach far beyond the hobby — all the way into federal court.
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