Story by Michael O'Keeffee/NY Daily News (edited):

Bill Mastro will apparently acknowledge at his February hearing that he altered the world's most valuable trading card, a Honus Wagner T206 that has fetched millions of dollars in a series of high-profile transactions, including a 1991 sale for $451,000 to NHL legend Wayne Gretzky and former Los Angeles Kings owner Bruce McNall.

Mastro, the founder of Mastro Auctions and once the most important figure in sports memorabilia, has signed the plea agreement that changes his not-guilty plea to guilty, according to papers filed in Chicago federal court by the United States Attorney's office for northern Illinois.

Monico said Mastro has been soliciting character references from collectors and dealers that will be submitted to the judge who ultimately sentences Mastro after he pleads guilty.

Some hobby insiders, however, say that they are reluctant to express support for a man they suspect ripped them off — especially since, they say, Mastro does not appear to accept responsibility for his actions.

"Just when I thought Bill Mastro could not be a more brazen and unrepentant criminal, he's now going to victims of his fraud asking for letters to be read at his sentencing," says New York attorney Jeff Lichtman, a longtime vintage card collector.

"He's claiming that he was indicted due to people with axes to grind. He's delusional."

Read more: http://www.nydailynews.com/sports/i-team/sports-collectibles-king-p...