LAS VEGAS -- A Las Vegas jewelry store owner pleaded guilty Monday to receiving and selling roughly $196,500 in stolen goods, Nevada's U.S. Attorney Daniel Bogden said.
Nabil Sakkab, 39, pleaded guilty before U.S. District Judge James Mahan to two counts of receipt and sale of stolen goods. Sakkab, who is scheduled to be sentenced Oct. 28, faces up to 10 years in prison and a $250,000 fine on each count.
"According to a December 2012 report prepared for Congress, organized retail crime exposes the United States to economic, public health and domestic security dangers," Bogden said. "Estimates of the losses to retailers range from $15 billion to $37 billion annually. Additionally, consumers end up paying for the losses in the form of higher prices on goods, and states lose the tax revenue that would otherwise be generated from the sale of these goods by legitimate retailers."
According to the plea agreement, Sakkab knowingly purchased stolen jewelry between Sept. 20, 2011, and Feb. 3, 2012, from an individual at a Las Vegas jewelry store Sakkab previously co-owned. The goods included Rolex and Tag Heuer watches stolen in other states and transported to Las Vegas prior to Sakkab's purchase. Sakkab resold the stolen jewelry at the store and privately to third parties for personal gain.
The case was investigated by the FBI and the Metro Police Special Investigations Section, and is being prosecuted by Assistant U.S. Attorney Christina Brown.