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Authenticity is Everything
American Royal Arts Corp. and Jerry Gladstone Sued by Beatles Expert Frank Caiazzo [Apr. 13 Update]
"Frank Caiazzo v. American Royal Arts Corp. and Jerry Gladstone" was filed Thursday morning, Sept. 23, in the New York State Supreme Court, Nassau County.
According to the suit, Caiazzo seeks to recover compensatory damages, punitive damages and legal fees of no less than $500,000. The causes of action listed in the suit include: Defamation, Trade Libel, Tortious Interference with Prospective Economic Advantage, and Prima Facie Tort.
Caiazzo's damages claimed in the suit revolve around a lawsuit American Royal Arts filed against him in Florida for calling a Revolver album they sold as signed by the Beatles a forgery. After almost three years, that case hasn't moved beyond a battle over jurisdiction. Last fall the Lower Court ruled that Florida was the proper venue for the case, and Caiazzo has appealed the decision.
Ironically, American Royal Arts' lawsuit against Caiazzo caught the attention of the New York Office of the FBI, which launched a criminal investigation into Jerry Gladstone and a number of his associates, including American Royal Arts' autograph suppliers and authenticators, over the suspected trafficking in forged autographs and memorabilia. The investigation is ongoing.
On August 14, 2010, American Royal Arts filed for an "Assignment for the Benefit of Creditors," a Florida form of corporate dissolution similar to a Chapter 7 Bankruptcy in United States Bankruptcy Court. According to reported deposition testimony by American Royal Arts VP Agnes Palmer, inventory unsalable due to the FBI investigation was one of the leading reasons for the filing.
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The album above is the Revolver album purportedly signed by the Beatles that American Royal Arts sued Frank Caiazzo over for calling a Southern California forgery. Jerry Gladstone never posted the album online and it was not attached as an exhibit to the lawsuit.
We don't know anyone who has seen the Revolver album since the suit was filed. While not a trusted source, one of American Royal Arts' authenticators, Mike Frost of P.A.A.S., told us that he asked to see the Revolver album and Gladstone refused to even show it to him.
See the related story: Beatles-Signed Abbey Road Albums: What's Real? What's Fake?
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Comment by 0wbsggnhre131 on September 23, 2010 at 2:15pm
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The truth hurts for a little while, but lies hurt forever.
- Eileen Parra
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Comment by Bobby Livingston on September 23, 2010 at 3:05pm
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This is excellent news and hopefully the first step to restoring Franks good name.
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Comment by john reznikoff on September 23, 2010 at 3:19pm
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Of course this will have extreme reverberations on both sides of "the line".
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Comment by roger epperson on September 23, 2010 at 4:31pm
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Finally, a possible end to Frank's nightmare. It's amazing what people will do to try to destroy someones character for thier benefit. My best to you Frank, I'm blessed to be your friend!
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Comment by scott on September 23, 2010 at 5:12pm
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Good luck. I am sorry that you have been hassled by Mr. Gladstone. The truth will come out in the end.
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Comment by Steve Cyrkin, Admin on September 23, 2010 at 9:40pm
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Scott, I think for Mr. Gladstone the truth will be going the other direction.
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Comment by Bill Panagopulos on September 24, 2010 at 12:33am
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Maybe Frank will be living in in Jerry's $2 million Florida seaside mansion...
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You can buy a seaside mansion for 2 million dollars? Is the housing market really that bad in Florida?
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Comment by Bjarne Soderholm on September 24, 2010 at 7:18am
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The housing market here in Florida is horrible. Right now Joey Fatone's (N'synk) mansion is up for sale. It will be on auction this weekend. Bids start at 3.75 million and it worth about 6.5 millions.
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And I cross my fingers for Frank!
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