Jeweler Jailed over $3.9m Rolex Scam
September 14, 22
(IDEX Online ) - A jeweler in Texas, USA, has been jailed after he failed to deliver $3.9m of pre-paid Rolex watches to a customer.
Santiago Mora, 40, was sentenced to 27 months in prison after pleading guilty at an earlier hearing to committing wire fraud.
In an effort to pay the customer and others, Mora obtained a total $500,000 in merchant cash advances via wire transfer by impersonating and using the good credit of his business partner.
He eventually admitted his fraudulent dealings to his business partner and to using his partner's identity to apply for and receive multiple merchant cash advances, according to the U.S. Attorney's Office for the Southern District of Texas.
Mora was co-owner with his business partner of Alku Modern Jewelers (pictured) in Katy, just west of Houston, Texas.