Forged PSA Labels: Inside the $2M Card Fraud Case

Updated: August 16, 2026

A federal trading card fraud case showed how a genuine-looking PSA holder and a certification number can create false confidence. Anthony Curcio was convicted in January 2026, and Iosif Bondarchuk pleaded guilty, after cards with forged PSA grades were sold or offered across online marketplaces, auctions, card shops and shows.

The case matters beyond one group of altered slabs. It exposes a basic weakness in expensive card transactions: buyers often verify one detail, see that it matches, and stop. A valid certification record is useful, but PSA itself warns that certification numbers can be copied from public sources. The number confirms that PSA graded an item with those database details. It does not, by itself, prove that the holder in front of you is that item.

What happened in the forged PSA labels case?

According to the Southern District of New York, the scheme ran from at least 2022 through May 2024. Curcio directed it and used Bondarchuk as a front man to communicate with buyers and list cards. The cards included vintage sports rookies, especially Michael Jordan cards, and Pokémon cards that could command steep prices if graded PSA 9 or PSA 10.

Trial evidence described a specific method. Lower-grade or ungraded cards were paired with altered labels. Curcio removed the rating and serial-number information from real PSA labels, then printed higher grades and different certification numbers onto them. The cards were offered through marketplaces including eBay, as well as auction sites and face-to-face deals.

The DOJ said the pair attempted to deprive victims of more than $2 million through completed and attempted sales. That wording is important. It is not the same as saying every dollar became a completed victim loss. The evidence also showed that some buyers challenged the cards, received refunds, and returned the slabs. Some of those cards were then offered again. One Michael Jordan rookie card was presented three times with three different forged grades.

The case timeline

Why a valid PSA cert number is not enough

Start with PSA Cert Verification, but treat the result as one checkpoint. PSA’s own warning is direct: criminals may use genuine certification numbers taken from public sources on counterfeit inserts. A successful lookup means the database contains that cert. It does not mean PSA has inspected the listing photos or guaranteed that the photographed slab is genuine.

Compare every returned field with the physical item or clear seller photos:

• Card identity: year, set, player or character, card number and variation must all agree.
• Grade and qualifier: the database result must match the label exactly.
• PSA images: when front and back SecureScan images are available, compare print marks, centering, corners and other visible traits. A different-looking card under the same cert deserves a stop.
• Label generation: check the design and security details against PSA’s holder and label security guide. Genuine labels have changed over time, so an older design is not automatically fake.
• Holder condition: unexplained separation, chips, frosting, clouding or tool marks around the weld can justify closer review. None is a verdict on its own.

Red flags before you pay

A convincing fake may not have an obvious spelling error. Transaction behavior can tell you as much as the plastic.

The seller blocks normal verification

Be cautious when a seller refuses clear front, back and edge photographs, will not provide a fresh photo with a handwritten date, or pressures you to complete the deal before you can check the cert. High-value cards deserve enough time to inspect.

The price is built around urgency

A bargain is not proof of fraud, and a high price is not proof of authenticity. The warning comes from the combination: a price far below recent comparable sales, a rushed deadline and a request to move payment outside a platform with buyer protection.

The listing details do not line up

Compare the listing title, label, cert page and the card itself. A variation mismatch, wrong card number or grade discrepancy is enough reason to pause. Check completed sales rather than asking prices when judging whether the offer makes sense.

The identity or ownership story keeps changing

The federal case included false identities and third-party sellers. That does not make every consignment suspicious, but a seller should be able to explain who owns the card, where it ships from and how a return will work.

A safer buying checklist for graded cards

1. Look up the cert yourself. Type the number into PSA’s official site. Do not trust a screenshot or a link supplied by the seller.
2. Match every database field. Year, brand, set, subject, card number, variation, grade and qualifier should agree.
3. Compare available PSA scans. Look for stable traits on the card, not just the label. Centering, print dots and edge patterns can help distinguish two examples.
4. Review the full holder. Ask for sharp photos of both faces, the four corners and the full seam. Avoid making a decision from a cropped label image.
5. Research the seller. Read recent negative feedback, inspect selling history and check whether the account normally handles cards at this price level.
6. Check real market results. Compare the same card, grade and variation using recent completed sales. Strange pricing needs an explanation.
7. Keep payment protected. Stay inside the marketplace checkout or use a payment method with clear buyer protection. Save the listing, photos and messages.
8. Escalate doubts before the deadline. Contact PSA through its official support channel and open a marketplace case while return or dispute rights remain available.

Collectors who want a broader explanation of grading can read our card grading guide. For a look at why a single premium grade can create an extreme value gap, see our guide to the Black Lotus card.

If you think a PSA slab is counterfeit

Do not alter, crack or return the holder outside the platform’s documented process. Preserve the listing, order confirmation, payment record, package label, photographs and messages. Photograph the slab as received, including the front, back, edges and packaging.

Contact PSA through its official Customer Request Center and tell the marketplace that authenticity is disputed. Follow its instructions for a return or claim. If the value is substantial or the seller appears to be repeating the conduct, consider reporting it to local law enforcement or the FBI’s Internet Crime Complaint Center. This is practical consumer information, not legal advice.

What collectors should take from the case

The forged-label scheme worked because a high grade can multiply a card’s price and because familiar branding lowers a buyer’s guard. The answer is not to assume every slab is suspect. It is to separate database verification from physical authentication and to check the seller, card, label, holder and transaction as one package.

That approach also applies outside sports and Pokémon. Buyers comparing graded Magic cards can review current listings on TCGplayer, Whatnot and eBay, but the same rule holds: compare the exact item and keep the purchase protected.

Sources and further reading

• U.S. Attorney’s Office, January 29, 2026 conviction announcement
• U.S. Attorney’s Office, May 23, 2024 arrest and indictment announcement
• cllct coverage of the original charges
• PSA Cert Verification
• PSA holder and label security information