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Fencing is the actions of the go between for a thief and buyer of the thief's stolen goods. The buyer may unwittingly buy stolen goods from a fence in yard sales, flea markets, through classified ads, or other traditional markets. A shrewed form of fencing is when the fencer poses as a fence for stolen goods and sells cheap illegal imitations of name brand goods at high prices under the pretence that they are more expensive legit versions.
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