Thursday, July 19, 2007

Disgraced stamp dealer

According to the Gloucestershire Gazette of Dursley,England, "A disgraced stamp dealer conned his fellow philatelists out of thousands of pounds in a bid to rescue his flagging business, a court heard."

Colin Pye, 43, promised clients he could sell their collections on eBay and wrote them post-dated checks - but a crash in the notoriously unpredictable stamp-dealing market meant the stock would not shift.

Pye was given 120 hours of unpaid work after his barrister George Threlfall told a judge: "His name is mud in the stamp world now - you trade on trust in that business."

Let's be careful out there!

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM