Headlines

Swindlers Use Monopoly Money to Steal Diamonds in Three Different Scams

Published

8 years ago

April 18, 2016

INSTORE Staff

They passed “Go” and collected way more than $200.

A gang of fraudsters has carried out three separate scams in England that all involve paying for watches, jewelry and diamonds with Monopoly money, the Bristol Post reports. In one scam, the article explains, a jeweler selling merchandise at a Bristol hotel agreed to sell $600,000 in diamonds to a customer, whereby the diamonds would be transferred from his nearby shop to the client upon receipt of payment. The client gave bundles of 100 euro notes to the jeweler, who used a cash-counting machine that didn’t detect any problems with the money. It’s speculated, however, that when the jeweler put the cash-counting machine away, the client somehow switched out the euros with Monopoly money, and the jeweler didn’t notice until after the diamonds had already been transferred from his shop to the swindlers.

"You can imagine the horror when he goes to check the cash,” David Hughes, the prosecuting attorney for the jeweler, told the Bristol Post. "It is immediately apparent it is not the same that he had counted in the hotel. It’s counterfeit. At some point during that fatal turnaround to put that cash-counting machine away, the real money has been switched, the fake money has been substituted and the criminals had disappeared with the diamonds."

At least three men have admitted to helping execute the crime, the article adds, while another has been accused but denies involvement.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”