CHICAGO — Mark Theotikos, a former executive with Mastro Auctions, will serve about four years in prison after pleading guilty Aug. 5 to one count of mail fraud. Theotikos pleaded guilty to participating in a scheme of raising prices on memorabilia, a practice called shill bidding.
Mastro, who pleaded guilty last year to mail fraud, is scheduled to testify in September against a fellow employee who was arrested in Missouri on a charge of lying to the FBI. Doug Allen, former Mastro Auctions president, reportedly will plead guilty in federal court on Aug. 11, reports The New York Daily News.
Allen had been indicted on 14 counts of mail and wire fraud two years ago. Allen had pleaded not guilty after the indictment but reportedly decided to change his plea.