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Friday, October 7, 2022
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MAN PAWN 3 PIECES OF FAKE ROLEX TO SETTLE LOANSHARK DEBTS

Having a Rolex watch is something many people wants but not many can afford. A man was caught after he pawned fake Rolex watches inorder to pay for his debts.

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The man was not only caught for pawning fake Rolex watches thrice but was also caught for carrying a stun gun in Yishun.

3 pieces of Rolex

The watch’s retail value is S$14,690 (According to rolex.com) but the amount has inflated since it has reached prices around $20,000 in the market.

33-year-old Aw Poh Seng pawned the first fake Rolex submariner for S$18,000 and returned again to pawned two more watches but he got caught.

According to CNA, the man tried to pawn off fake rolexes to pay off loanshark debts.

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He was charged for cheating and another charged for carrying a stun gun.

How he got caught:

When Aw was deep in debts, he hatched a plan of buy fake Rolex watches that cost around $800 to pawn to the a pawn shop.

On 18 July 2021, the Police received a report on a case of cheating involving the pawning of three counterfeit Rolex watches. On 15 and 16 July 2021, two men had patronized the pawnshop located in Marsiling Estate and allegedly pawned three counterfeit Rolex watches for at least $52,000. During the checks, the shop staff detected that the watches were counterfeit. 

Through follow-up investigations, officers from Woodlands Police Division established the identity of the two men and arrested them on 29 July 2021. Cash amounting to $4,300, a gold chain and three counterfeit watches were seized as exhibits.

Penalties he might faced

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The offence of cheating is under Section 420 of the Penal Code 1871. The offence carries an imprisonment term of up to 10 years and a fine.

The offence of possession of any gun or arms, without a licence under Section 13(1)(a) of the Arms and Explosives Act, Chapter 13, carries an imprisonment term which may extend to 3 years, or fine of up to $5,000, or both.

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