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
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
