Yes, it is. There were also allegations of fake proof stamps, forgeries of certificates of proof, welding up of Spanish proof marks with non-Spanish marks then stamped, spurious cheap castings of un-know origin being passed off as forgings, and other sundry felonious behavior. Mr. Malin didn't simply go out of business, he was assisted in that matter with court orders from his own, and other countries.
The guns need to be judged one at a time, as marvelous examples exist, along with buyer-beware crap.

No idea which catagory the gun you bought falls into.

Best,
Ted