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.
The Latest
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, WomenMovado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
