CrimeAug 29, 2022
JSA Reward for Texas Grab-and-Run Suspect Doubled to $5KCrimeSep 13, 2022
Texas Retailer Sentenced to Prison for Wire Fraud
Santiago Mora used his business partner’s identity to receive $500,000 in cash advances to pay clients.
Houston—A Texas jewelry store owner has been sentenced to a little over two years in prison after being convicted of wire fraud.
According to the U.S. Attorney’s Office for the Southern District of Texas, federal Judge Andrew Hanen sentenced 40-year-old Santiago Mora to 27 months in prison, immediately followed by three years of supervised release.
Mora owned half of Laspis Lazuli LLC, which did business as retailer Alku Modern Jewelers in Katy, Texas. A silent partner based in Sandy, Utah, owned the other 50 percent.
According to the release, Mora failed to deliver pre-paid Rolex watches valued at about $3.9 million to a customer.
To pay said customer and others, Mora created and executed a scheme to obtain $500,000 in merchant cash advances via wire transfer by impersonating his business partner and using his good credit.
He eventually admitted the fraud to his business partner.
Mora was indicted in November 2020 but released on $50,000 bond.
As local reports began surfacing about the retailer defrauding additional customers at his jewelry store, the government moved to revoke his bond, court records show.
But Mora didn’t show up for the revocation hearing, and FBI agents arrested him in June 2021 in Miami on a warrant for failure to appear.
He pleaded guilty to wire fraud on March 3.
He will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined soon, the U.S. Attorney’s Office said.
Mora also was wanted by the sheriff’s office in Fort Bend County, Texas, for first-degree felony theft related to Alku Modern Jewelers.
A local news station aired multiple reports of people who claim they gave Mora money for items they never received, including a man who said he’s out $3,500 for an engagement ring and another who said he paid the retailer $26,000 for two rare Rolex watches that were never delivered.
The sheriff’s office said their investigation has been filed with the Fort Bend County District Attorney’s office. No other information was available by press time.
Related stories will be right here …
According to the U.S. Attorney’s Office for the Southern District of Texas, federal Judge Andrew Hanen sentenced 40-year-old Santiago Mora to 27 months in prison, immediately followed by three years of supervised release.
Mora owned half of Laspis Lazuli LLC, which did business as retailer Alku Modern Jewelers in Katy, Texas. A silent partner based in Sandy, Utah, owned the other 50 percent.
According to the release, Mora failed to deliver pre-paid Rolex watches valued at about $3.9 million to a customer.
To pay said customer and others, Mora created and executed a scheme to obtain $500,000 in merchant cash advances via wire transfer by impersonating his business partner and using his good credit.
He eventually admitted the fraud to his business partner.
Mora was indicted in November 2020 but released on $50,000 bond.
As local reports began surfacing about the retailer defrauding additional customers at his jewelry store, the government moved to revoke his bond, court records show.
But Mora didn’t show up for the revocation hearing, and FBI agents arrested him in June 2021 in Miami on a warrant for failure to appear.
He pleaded guilty to wire fraud on March 3.
He will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined soon, the U.S. Attorney’s Office said.
Mora also was wanted by the sheriff’s office in Fort Bend County, Texas, for first-degree felony theft related to Alku Modern Jewelers.
A local news station aired multiple reports of people who claim they gave Mora money for items they never received, including a man who said he’s out $3,500 for an engagement ring and another who said he paid the retailer $26,000 for two rare Rolex watches that were never delivered.
The sheriff’s office said their investigation has been filed with the Fort Bend County District Attorney’s office. No other information was available by press time.
More on Crime
The Latest
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Policies & IssuesDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
SourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent StatusVivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
MajorsDec 02, 2025
Lee Krombholz Takes Over as Chair of MJSA Education FoundationIn addition, a slate of new officers and trustees were appointed to the board.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
SourcingDec 02, 2025
Brendan Laurs Honored With 2025 Bonanno AwardLaurs is the editor-in-chief of Gem-A’s The Journal of Gemmology and an expert on the formation of colored gemstone deposits.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
