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Mastro Pleads Guilty, Admits Trimmed Wagner

In a plea hearing today in Chicago, Bill Mastro pled guilty to one count of mail fraud and admitted to the practice of shill bidding as well as trimming a famous T206 Honus Wagner card that has since sold for millions.

In a hearing today before U.S. District Judge Ronald Guzman, Bill Mastro pled guilty to one count of mail fraud, admitting to shill bidding and trimming a T206 Honus Wagner card that would later sell for millions.

Mastro could face up to five years in prison, but prosecutors have said they will recommend a prison sentence of 2-1/2 years.

The Chicago Tribune was at today's proceedings and provides a synopsis of the events.

This hearing was the result of the judge rejecting plea deals earlier in the year. The original press release regarding Mastro's indictment can be found here.

As future dates are announced regarding sentencing and the like, we'll post them.