Crime

Queens Jeweler Convicted of Laundering Stolen Luxury Watches

CrimeFeb 06, 2023

Queens Jeweler Convicted of Laundering Stolen Luxury Watches

A jury found Stanislav Yakubov guilty of money laundering and making false statements to federal law enforcement agents.

20230206_StolenWatches.jpg
The U.S. Attorney’s Office of the Southern District of New York is asking anyone who knows the whereabouts of the stolen watches pictured to contact them. Jeweler Stanislav Yakubov has been convicted of laundering the stolen goods.
New York—It’s the end of the road for a jeweler accused of laundering stolen luxury watches.
 
A jury found Stanislav “Steve” Yakubov, owner of a jewelry store in the Jamaica Colosseum Mall in Queens, New York, guilty on one count of money laundering and two counts of making false statements to federal law enforcement agents, the U.S. Attorney for the Southern District of New York Damian Williams announced Feb. 1. 
 
U.S. District Judge Edgardo Ramos presided over the eight-day trial. Ramos will sentence 42-year-old Yakubov on June 1. 
 
According to the U.S. Attorney’s Office, Yakubov agreed to purchase stolen luxury watches valued at hundreds of thousands of dollars. Some of the watches were stolen from jewelers in Yakubov’s community, and some in violent armed robberies. 
 
“Yakubov’s actions fueled a year-long robbery spree that targeted nearly a dozen victims, and his conviction sends a message to the community that the purchase and laundering of stolen property will be vigorously investigated and prosecuted,” said U.S. Attorney Damian Williams.
 
There are 10 robberies and attempted robberies to which Yakubov is linked. 
 
The robberies took place in 2019 and 2020, according to evidence presented at trial and the trial’s superseding indictment.
 
On Oct. 3, 2019, a Long Island City, New York, jeweler was robbed of a Richard Mille watch worth more than $150,000. 

On Oct. 25, 2019, a Jamaica, New York, jeweler was robbed of a Rolex worth more than $118,000. 

On Dec. 10, 2019, a Brooklyn, New York, jeweler was robbed of a Patek Philippe worth more than $160,000, as well as a diamond necklace valued at over $77,000. 
 
 Related stories will be right here … 
 
On Jan. 14, 2020, a Rego Park, New York, jeweler was robbed of a Richard Mille watch worth more than $500,000. 

On Feb. 16, 2020, a Jamaica Estates, New York, jeweler was robbed of an Audemars Piguet watch worth over $28,000. On. Feb. 20, 2020, an individual in Long Island City was robbed of a watch valued at over $125,00. 
 
Things cooled off during the earliest pandemic lockdowns, when jewelry stores were closed, but resumed in June 2020.
 
On June 11, 2020, a Hoboken, New Jersey, jeweler was robbed of a Richard Mille timepiece valued at more than $81,000. On July 6, 2020, another jeweler in Hoboken was robbed of a Richard Mille watch worth more than $180,000. 
 
On July 20, 2020, there was an attempted robbery of a Richard Mille watch worth more than $180,000 from a jeweler in Queens. 
 
Finally, on Aug. 2, 2020 a food critic and social media influencer was robbed of a Richard Mille watch worth more than $250,000 in Englewood Cliffs, New Jersey.
 
In all of these successful robberies, additional items were stolen, the U.S. Attorney’s Office said.  
 
As for the robbers themselves, one of the men, Victor Rivera, pleaded guilty to participating in a conspiracy to commit Hobbs Act robbery between October 2019 and November 2020. Rivera used guns to commit several of the robberies and in one, shot a victim who survived. 

He was sentenced to more than 19 years in prison

The U.S. Attorney’s Office of the Southern District of New York is asking anyone with knowledge of the whereabouts of the stolen watches to contact them at 1-866-874-8900. 
 
In addition to Yakubov’s money laundering conviction, he was also convicted of two counts of making false statements to federal law enforcement agents. 
 
The former carries a maximum 20-year sentence and the latter a five-year maximum sentence each. 
 

The Latest

Dunkelberger’s Fine Jewelry
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 Years

Jim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.

Stock image of a person shopping at the grocery store
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows

When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.

Rebel Jewelry Tunnel Charm
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride Month

The “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.

PG-05-SHOT-2-LUCIDA.033 1.png
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in Vegas

As gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.

Three gold rings set with yellow- and brown-hued diamonds
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural Diamonds

The jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.

Weekly QuizJun 05, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
A Marvelous Journey: The Collection of Maurice Tempelsman
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to Auction

Up for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.

Dakota Badia and Nancy Badia
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in Aspen

The Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.

1872x1052-NextGem-2026-National-Jeweler-Advertorial.jpg
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry Retailers

With the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.

AGS at Peter Yantzer Building dedication
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule Ceremony

The organization also announced its international board of directors for the 2026-2027 term.

Neiman Marcus downtown Dallas store
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in September

Saks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.

The Retail Smiths founder and National Jeweler columnist Peter Smith
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About You

Smith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.

Screenshot of the Tracr website homepage
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned Platform

The Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.

The 1916 Company Coast to Coast Roadshow
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, Again

The retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.

Jessica Alba in Gabriel & Co. campaign
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.

The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.

Anna Maccieri Rossi Ora Wood Sunrise Cuff, Marie Lichtenberg High Jewelry Bandana, Anna Maccieri Rossi Carpe Diem Pendant
TrendsJun 03, 2026
State of Design: Only the Innovative Will Survive

The price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.

Woman with crossed hands and rings on fingers
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’

The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.

Dr. Akinwumi Adesina, chairperson of the Diamonds for Development Fund
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund

Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.

James Marks
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’s

Sotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.

Sothebys 10-carat blue diamond, 120 carat Harry Winston diamond necklace
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace

A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.

People shopping in a jewelry store
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers Today

From Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.

Zahn-Z Big Zaha Art Deco Ring
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design Awards

The show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.

Rapaport's rebranding
SourcingJun 01, 2026
RapNet Rebranding as Rapaport Trade

The revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.

Gemfields emeralds
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8M

The miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.

Cultus Artem River of Heaven Necklace
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ Desert

The “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.

Sean Dunn, Amy Greenberg, Elise Greenberg, Coleman Clark, Mitchell Clark
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame Inductees

This year’s inductees include second-, third-, and fourth-generation jewelers.

Jesse Itzler
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote Speaker

The author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.

JCK Rocks Nelly Graphic
Events & AwardsMay 28, 2026
JCK Rocks To Ride With Nelly

Three-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy