A jeweler scammed Los Angeles County and Orange County customers out of nearly $1.5 million through a scheme that promised them Rolex watches that never arrived, state prosecutors announced Wednesday, May 20.
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Nelson Andres Holdo was charged with 21 felony counts of grand theft and two felony counts of writing a fraudulent check, according to the California Department of Justice.
Prosecutors alleged the crimes took place between September 2021 and January 2026 throughout Los Angeles and Orange counties. Holdo found buyers interested in Rolex models valued between $50,000 and $100,000 and convinced them to pay him up front with the promise they would receive the luxury watches within four to six weeks, state prosecutors said.
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But the watches never came, and Holdo made excuses to his buyers for weeks and months, prosecutors alleged. Eventually, when clients would ask for a refund, Holdo agreed but held onto the money, leaving most victims at a loss, according to the California Department of Justice.
Prosecutors also accused Holdo of never paying a watch distributor who sold him high-end pieces, putting the distributor at a $400,000 loss.
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