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Bill Mastro Sentenced to 20 Months

Bill Mastro, former head of Mastro Auctions, will serve 20 months in prison for actions such as card trimming and shill bidding.

After a long-standing affair in the court system, Bill Mastro, former head of Mastro Auctions in Illinois, was sentenced to 20 months on Aug. 20 in a federal prison for numerous offenses including trimming cards and shill bidding.

According to the Chicago Tribune, since Mastro still has to estify against co-defendants, he was given until Nov. 30 to report for prison. Mastro's attorneys had sought probation referring to his charitable efforts and cooperation in the investigation. The judge made his ruling to set an example as a deterrent and noted his dual personalities of fraud vs. his charity efforts.

Mastro faced up to five years in prison, but the judge agreed with prosecutors on the 20-month sentence because of Mastro's cooperation with authorities. Mastro had already paid a $250,000 fine.

Fellow Mastro Auctions employees Doug Allen and Mark Theotikos have sentencing scheduled for October 2015.