SINGAPORE: A man who pawned counterfeit Rolex watches in a bid to settle his debts was sentenced to 10 months’ jail and fined S$3,000 on Wednesday (Oct 10).
Aw Poh Seng, 33, pleaded guilty last month to two counts of cheating and a third unrelated charge of carrying a stun gun at a fitness corner in Yishun. Three other charges were considered in sentencing.
Aw had racked up debts in July 2021 due to loans he took from unlicensed moneylenders and losses incurred from gambling.
After hatching a plan to get money by pledging fake Rolex watches at pawn shops for money, Aw looked for suppliers for watches that bore very close similarities to the real deal.
He found a suitable supplier and bought two counterfeit Rolex watches for S$800 and S$850. On Jul 15, 2021, Aw went to a pawn shop in Marsiling to pledge one of them.
The employee asked for a certificate of authenticity for the Rolex Submariner, but Aw claimed he had lost it. He successfully deceived the employee, who took the watch and gave Aw S$18,000 in return.
Aw also pawned a fake Rolex Deep Sea Dweller watch for S$16,500 at the same shop that day.
As he had received a total of S$34,500 for two counterfeit Rolexes, Aw grew emboldened and decided to cheat the shop again. However, he thought it might look suspicious if he were to take a third watch there, so he got a friend to do it for him.
The friend took another fake Rolex Submariner to the same shop on Jul 16, 2021, where he pledged it for S$18,000.
Aw then used the cash to buy gold. However, the pawn shop caught wind of the scam and a police report was filed days later. Gold items along with S$4,300 in cash were seized from Aw when he was arrested.
The pawn shop was willing to accept the gold and cash, which was worth about S$31,700 in all, as restitution.
Aw’s friend was also nabbed and sentenced in February this year.