MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
IndependentsFeb 17, 2021
Chicago Rolex Dealer Accused of Racketeering in Lawsuit
A former employee has accused the owner and employees of C.D. Peacock of selling Rolex watches directly into the gray market and firing employees who blew the whistle on their activities.
C.D. Peacock, which operates three stores in the Chicago area, has been accused of selling Rolex watches to gray market resellers. (Image courtesy of C.D. Peacock’s website)
Chicago—A longtime Chicago jeweler and a number of his employees are being publicly accused in a lawsuit of conspiring to illegally sell Rolex watches to gray market resellers and firing employees who blew the whistle on the alleged scheme.
C.D. Peacock Inc., which has been in business since 1837, operates three stores in the Chicago area and is an authorized dealer of top watch brands including Rolex, Patek Philippe, Cartier and TAG Heuer.
Last week, a former C.D. Peacock employee, Suzana Krajisnik, filed suit against owner Seymour Holtzman and four of his employees in federal court in Illinois.
In the suit, Krajisnik claims she was fired in December 2019 for being a whistleblower on “a conspiracy by the defendants to illegally sell Rolex watches to foreign grey market resellers in order to enrich themselves” and “refusing to engage in flagrant illegal activity that violated state and federal law.”
Two other former C.D. Peacock employees, fired in June 2020 and January 2021, are named in the suit and back up her claims, stating they believe they were also fired for notifying management of the situation and refusing to participate.
In a statement to National Jeweler, a spokesperson for C.D. Peacock called Krajisnik’s claims “baseless.” The jeweler said Krajisnik was “terminated for cause” and it will vigorously defend itself against the suit’s “false accusations.”
C.D. Peacock also said it follows all distribution guidelines outlined by the brands it carries.
“In an industry where demand far exceeds supply for generational timepieces, we value transparency and accountability,” the company said. “We follow all guidelines to preserve our brand partnerships.”
Rolex did not respond to an email request for comment on the lawsuit.
The detailed 50-plus-page filing accuses Holtzman as well as CEO Robert Baumgardner, former employee Dyol Hill, and employees Christopher Croteau and Yingxue Duan of violating “numerous federal and state laws including but not limited to racketeering, money laundering, mail, wire, immigration, and credit card fraud, and Illinois sales tax evasion.”
The court filing outlines the guidelines authorized Rolex dealers must follow as part of the brand’s distribution agreement. The store also has its own policies in place to reinforce that agreement.
C.D. Peacock employees are told the most important policy to follow is that Rolex sales are to be made in person at the approved location, as per court documents. Selling by catalog, phone, online or by other means is prohibited.
The jeweler’s policy requires sales professionals to be wearing a Rolex timepiece and a Rolex scarf or tie while making Rolex sales, and protective stickers must be removed from watches sold in-store, a rule put in place specifically to avoid gray market sales.
C.D. Peacock Inc., which has been in business since 1837, operates three stores in the Chicago area and is an authorized dealer of top watch brands including Rolex, Patek Philippe, Cartier and TAG Heuer.
Last week, a former C.D. Peacock employee, Suzana Krajisnik, filed suit against owner Seymour Holtzman and four of his employees in federal court in Illinois.
In the suit, Krajisnik claims she was fired in December 2019 for being a whistleblower on “a conspiracy by the defendants to illegally sell Rolex watches to foreign grey market resellers in order to enrich themselves” and “refusing to engage in flagrant illegal activity that violated state and federal law.”
Two other former C.D. Peacock employees, fired in June 2020 and January 2021, are named in the suit and back up her claims, stating they believe they were also fired for notifying management of the situation and refusing to participate.
In a statement to National Jeweler, a spokesperson for C.D. Peacock called Krajisnik’s claims “baseless.” The jeweler said Krajisnik was “terminated for cause” and it will vigorously defend itself against the suit’s “false accusations.”
C.D. Peacock also said it follows all distribution guidelines outlined by the brands it carries.
“In an industry where demand far exceeds supply for generational timepieces, we value transparency and accountability,” the company said. “We follow all guidelines to preserve our brand partnerships.”
Rolex did not respond to an email request for comment on the lawsuit.
The detailed 50-plus-page filing accuses Holtzman as well as CEO Robert Baumgardner, former employee Dyol Hill, and employees Christopher Croteau and Yingxue Duan of violating “numerous federal and state laws including but not limited to racketeering, money laundering, mail, wire, immigration, and credit card fraud, and Illinois sales tax evasion.”
The court filing outlines the guidelines authorized Rolex dealers must follow as part of the brand’s distribution agreement. The store also has its own policies in place to reinforce that agreement.
C.D. Peacock employees are told the most important policy to follow is that Rolex sales are to be made in person at the approved location, as per court documents. Selling by catalog, phone, online or by other means is prohibited.
The jeweler’s policy requires sales professionals to be wearing a Rolex timepiece and a Rolex scarf or tie while making Rolex sales, and protective stickers must be removed from watches sold in-store, a rule put in place specifically to avoid gray market sales.
Editors' Picks
Sponsored by
According to the lawsuit, C.D. Peacock’s policy also prohibits the sale of limited availability models to unknown buyers, preferring to sell them instead to customers with a history of purchasing those types of watches in order to avoid them being resold online.
Newer employees were not allowed in the Rolex room and could not sell Rolex products until they were familiar with the brand and had an established client base, as per court documents.
The procedures above were followed, the lawsuit claims, until December 2018.
Two events that happened around that time set “the scheme” in motion, Krajisnik claims in the lawsuit: the hiring of a new employee, Duan, and a goal set by management for $10 million in sales.
Employees were told that if they reached the goal, Rolex would pay to remodel one of C.D Peacock’s stores, select executives would receive “substantial bonuses,” and Rolex would make additional high-demand watches available to CDP, the lawsuit claims.
Though Duan was a new employee, she began selling Rolex watches.
The filing details several instances of Duan allegedly engaging in illegal behavior and violating store and Rolex policies.
For example, the suit states that in late January or early February 2019, a typically slow period for the jeweler, one of the employees who was also fired noted that “the Rolex sales numbers were skyrocketing, and Duan, who had no established customer base and rarely, if ever, had in-store customers, was recording extraordinary Rolex sales.”
The employee discovered that “Duan was regularly engaging in forging signatures on credit card receipts”—to sign for customers who had never visited the store—and “making remote sales of Rolex products, whether on the phone or online, to heretofore unknown customers,” the suit states.
Multiple watches were allegedly being shipped out of state at one time, as per the court filing, to avoid sales taxes, also violating CDP and Rolex policies.
Krajisnik also claims in the lawsuit that she friended Duan on Facebook and noticed she was posting Rolex products for sale in foreign countries, including on pages for jewelry resellers. Both CDP and Rolex forbid online advertising and sale of Rolex products.
Though Rolex is mentioned most often in the filing, Krajisnik claims that several other luxury watch and jewelry brands, including Patek Philippe, may also be included in the alleged scheme.
Krajisnik is requesting a trial by jury to settle the matter and is asking for lost wages, back pay, damages, and attorneys’ fees.
The case was filed with the U.S. District Court for the Northern District of Illinois.
More on Independents
The Latest
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
