Dave and Adam's employees steal 1.3 million

[IUjapander]

Saw this on twitter. That is a lot of boxes.

http://www.sportscollectorsdaily.com/dave-adams-employees-plead-guilty-1-3-million-theft/

 

[Enfuego79]

Saw this on twitter. That is a lot of boxes.

http://www.sportscollectorsdaily.com/dave-adams-employees-plead-guilty-1-3-million-theft/

I have actually been to the store location quite a few times and 2 of the 3 have actually processed my purchases

 

[bmp1971]

No wonder their prices were higher than everyone else's!

Greed won't do much for thieves behind bars, will it?

I wonder if Topps employees are responsible for all those "missing" box hits? Topps "missing" hits have cost me, personally, upwards of $3000.

 

[RiceLynnEvans75]

What a bunch of dirtbags. Unfortunately, greed is a powerful thing.

 

[Nate Colbert 17]

No wonder their prices were higher than everyone else's!

Greed won't do much for thieves behind bars, will it?

I wonder if Topps employees are responsible for all those "missing" box hits? hmmm...

I think that might be one of the reasons Topps has non "card enthusiasts" making their cards.

 

[MansGame]

That's crazy. I mean $800,000?! Like whoa. Dude should have skipped town or country or gone into hiding lol.

 

[Austin]

The worst part is near the end of the article that says the thefts resulted in six layoffs. Dave and Adam's had to layoff six innocent employees to make up for the financial loss.

 

[jbmm161]

That amount of money is insane. These guys are gonna have a hell of time trying to recover that money in restitution. No way they made money back or a profit on what they stole.

Would like to see a list of what they got away with and what was pulled sold and how much the return was.

 

[PeteD]

Maybe do more frequent inventory checks?

 

[pac_rat_76]

They had to realize they would get caught.... eventually!

 

[sportscardtheory]

Damn. I was just in that specific store yesterday. No wonder only one person was manning the place. lol

 

[MansGame]

That amount of money is insane. These guys are gonna have a hell of time trying to recover that money in restitution. No way they made money back or a profit on what they stole.

Would like to see a list of what they got away with and what was pulled sold and how much the return was.

I'm pretty sure they stole the stuff, so wouldn't that be 100% profit if they sold anything?

Also, I'm sure they'll file bankruptcy or something. They won't probably have to go through their entire lives paying back the million bucks but I could be wrong.

 

[allstars]

This is what happens when business owners take a hands-off approach to their businesses. Plain and simple, it's ludicrous that even a 5-figure amount of inventory should be missing without any red flags. 7 figures? Well...

 

[Austin]

This is what happens when business owners take a hands-off approach to their businesses. Plain and simple, it's ludicrous that even a 5-figure amount of inventory should be missing without any red flags. 7 figures? Well...

When you have an enormous warehouse full of cases and boxes like the pic below, it's not easy to notice a few are trickling out every once in awhile.
It's not like the thieves backed a semi truck up to the back door and loaded it up at once. It was a theft that happened slowly over 19 months.

 

[Nate Colbert 17]

Where's Cardcop when you need him?

 

[MansGame]

Holy sh!t. That's there warehouse?!

 

[JoshHamilton]

This is what happens when business owners take a hands-off approach to their businesses. Plain and simple, it's ludicrous that even a 5-figure amount of inventory should be missing without any red flags. 7 figures? Well...

How do you know how D+A runs their day-to-day operations?

 

[MansGame]

How do you know how D+A runs their day-to-day operations?

You don't have too, read his post again... Seven figures walks out the door? You should have caught that earlier. At least I'd hope.

 

[jbmm161]

I'm pretty sure they stole the stuff, so wouldn't that be 100% profit if they sold anything?

Also, I'm sure they'll file bankruptcy or something. They won't probably have to go through their entire lives paying back the million bucks but I could be wrong.

Just saying the return on investment of 1.3 million in wax probably does not compare to the cost of the product for the average breaker.
Then throwing in selling costs, attorney fees, court fees, restitution which I would assume as to be paid in full plus jail time. What are the chances these guys have a fraction of the money in the bank.

It's 100% profit only if you don't get caught.

They are screwed for life and it is well deserved. I would guess they would not be allowed to file bankruptcy they will be going to federal prison more than likely.

It is insane what this "hobby" and greed brings grown men to do.

 

[gracecollector]

The good thing is that the losses quoted were based on Hi Beckett Book Value, so they've really only out about 33% of that.