Company executive pleads not guilty to fraud

A memorabilia company executive accused of improperly hiking baseball card auction prices and selling hair advertised as belonging to Elvis Presley even though its authenticity was in doubt has pleaded not guilty to the charges.

William Mastro on Tuesday entered a not guilty plea to mail fraud before U.S. Magistrate Judge Jeffrey Gilbert in Chicago. Defense attorney Michael Monico says the 59-year-old Mastro of Palos Park was released on his own recognizance.

Mastro Auctions, which folded in 2009, billed itself as the world’s leading sports and Americana auction house. It is also accused of misleading bidders into thinking demand for an item was greater than it really was.

Former executives Doug Allen of Crete and Mark Theotikos of Addison face multiple counts of fraud.