LAS VEGAS -- A Las Vegas jewelry store owner Thursday received a two-year prison sentence for purchasing and selling luxury jewelry he knew was stolen, Nevada's U.S. Attorney Daniel Bogden said.
Nabil Sakkab, 39, also was ordered by U.S. District Judge James Mahan to pay $196,000 in restitution. Sakkab pleaded guilty in July to two counts of receipt and sale of stolen goods. He was permitted to self-report to federal prison no later than Feb. 14.
"This case was prosecuted as part of a federal and local law enforcement effort to combat organized retail theft," Bogden said. "Organized retail theft causes billions of dollars in losses to retailers annually. These losses are usually passed on to the consumers 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 dealers."
According to court records, Sakkab was part-owner of Red Rock Jewelers From Sept, 20, 2011, to Feb. 3, 2012, he acted as a fence for stolen property by purchasing and selling luxury jewelry stolen by co-conspirator Jeffrey Cochran.
Cochran also pleaded guilty to stolen goods charges and is scheduled to be sentenced on Nov. 25. Most of the stolen items sold by Sakkab were high-priced Rolex watches taken in other states and transported to Las Vegas. Sakkab resold the stolen jewelry at Red Rock Jewelers, and also made private sales to third parties for personal gain. The amount of restitution ordered was reduced because of law enforcement's recovery of a stolen watch.
The case was investigated by the FBI and the Metro Police Special Investigations Section. The case was prosecuted by Assistant United States Attorney Christina Brown.