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.
Editors' Picks
Sponsored by
More on Crime
The Latest
AuctionsSep 30, 2022
Red Diamond Earns $1.8M at AuctionThe final hammer price blew the pre-sale estimate out of the water.
EditorsSep 30, 2022
The Best of Betty White’s Jewelry Sold at AuctionMichelle Graff recaps the cats, fortune cookies, and charm bracelets that caught her eye while covering the late actress’ estate sale.
Policies & IssuesSep 30, 2022
Voting Is Open for the Fairmined 100 Challenge’s Best CollectionThe winners, picked by a group of judges and voted as the public’s favorite, will be announced in a webinar on Oct. 11.
Brought to you by
6 Steps to Start a Dynamic Company CultureLearn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
CollectionsSep 30, 2022
Piece of the Week: Fewer Finer’s ‘Family Bracelet’The engravable piece is a perfect family heirloom.
Weekly QuizSep 29, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
GradingSep 30, 2022
GSI India Names Ramit Kapur Managing DirectorKapur has spent nearly two decades working in the gemological labs sector of the jewelry industry.
Supplier BulletinSep 29, 2022
How to Create an Engaging Experience and a Sparkling ReputationSponsored by Synchrony
Brought to you by
Committing to an Ethical Diamond BusinessWhile ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.
SourcingSep 29, 2022
Q&A: Constantin Wild Celebrates 175 Years in the Colored Stone Business The family business’ fourth-generation eponymous owner reflects on the milestone and the market today.
AuctionsSep 29, 2022
See the Top Lots in Christie’s Upcoming Rare Watch SaleAccording to Christie’s, the auction is its most important single-owner watch collection ever.
CollectionsSep 29, 2022
Trove Has a New Proposal: Ring BoxesThe jewelry box brand is expanding with both single and double ring boxes in red, mint green, and white.
SourcingSep 29, 2022
AGTA Names Jennifer Heebner Editor-in-Chief of its PublicationsThe association has also hired a new marketing manager and announced two staff transitions.
Policies & IssuesSep 29, 2022
JA Members Return to Capitol Hill to Voice Jewelers’ ConcernsThe topics up for discussion with lawmakers included inflation, rising interest rates, hiring challenges, and crime.
AuctionsSep 28, 2022
The 18-Carat ‘Fortune Pink’ Diamond Could Sell for $35M The pear-shaped fancy vivid pink diamond will lead the Christie’s Geneva Magnificent Jewels auction on Nov. 8.
SurveysSep 28, 2022
Consumer Confidence Rises in SeptemberU.S. consumer confidence rose for the second consecutive month as gas prices fell.
MajorsSep 28, 2022
Artistry’s 2023 Catalog Is Out NowThe jewelry catalog features an updated layout and 160 pages of product.
MajorsSep 28, 2022
JFC’s 2022 ‘Hope for the Holidays’ Program Is an Adorable Menagerie There are three designs to choose from this year, all featuring animals drawn by kids who have had wishes granted through Make-A-Wish.
AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”
ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store EventsFrom a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.
MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season “Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.
Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.
IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 YearsThe store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.
CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.
Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About InsuranceFrom safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.
TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry BoxIt’s the first time in 50 years the brand has made something other than jewelry.
Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design CompetitionThe competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.
CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New CollectionThe limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.
