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Suspect Pleads Guilty in $800,000 Luxury Watch Scheme

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The criminals targeted 40 stores nationwide.

A California man admitted to a role in a scheme in which more than $800,000 worth of luxury watches were purchased by fraudulent means.

Thung Van Huynh admitted to a count of conspiracy to commit bank and wire fraud, PennLive reports.

Huynh and three other people were accused of buying or trying to buy the watches — including Rolex and other brands — in 2013 and 2014.

They targeted more than 40 stores all over the U.S.

“The watches were bought with money obtained by submitting on-line loan applications with various financial institutions using the fake identification documents,” PennLive reports, citing Assistant U.S. Attorney George Rocktashel.

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Huynh could face a sentence of up to 30 years in prison.

Read more at PennLive

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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