A Southern California jeweler who stole more than $1.7 million from customers through a fraud scheme involving Rolex watch sales was sentenced to prison.<\/p>\n
Nelson Andres Holdo, 66, successfully scammed 32 victims across Orange and Los Angeles counties from 2021 to 2026, according to the California Attorney General’s Office.<\/p>\n
Over the years, he operated the jewelry scam under several business names: Mimi et Cie, LLC, LA Gems Private Jewelers, and Brivetti, LLC.\u00a0<\/p>\n
Prosecutors said Holdo specifically targeted buyers who wanted to purchase high-end Rolex models priced between $50,000 and $100,000 or those who were interested in expensive luxury jewelry.<\/p>\n
He would falsely promise to source the clients’ requested watches through his overseas brokers and would convince customers to wire him the full purchase price upfront, prosecutors said.<\/p>\n
The victims were told that the watches would arrive within four to six weeks. When the timeline lapsed and no watches arrived, Holdo would offer “endless excuses and reassurances as the weeks turned into months,” investigators said.<\/p>\n
“When buyers finally demanded their money back, the jeweler agreed to issue refunds, but ultimately pocketed the cash, leaving most victims without their money,” court documents said.<\/a><\/p>\n Through this scheme, Holdo swindled more than $1.7 million from his victims. He was charged with the crimes in May 2026.<\/a><\/p>\n On Aug. 31, 2026, Holdo was sentenced to five years in state prison after pleading guilty to multiple counts of felony grand theft and writing fraudulent checks, as well as a white-collar crime enhancement.<\/p>\n “When bad actors use complex schemes to take away Californians’ hard-earned money, they will be held accountable,” said California Attorney General Rob Bonta. “Let this announcement be a warning to those who would enrich themselves at the expense of others. The California Department of Justice will continue to investigate, expose, and dismantle financial crimes and fraud across California.”<\/p>\n