After serving a 27-month sentence in federal prison, the man will be under supervised release for another three years.
KATY, Texas — A Katy jewelry store owner on Friday was sentenced to 27 months in federal prison after he was convicted of a cash advance wire fraud scheme, according to the US Department of Justice.
Santiago Mora, 40, of Katy pleaded guilty to wire fraud charges on March 3.
RELATED: Miami FBI agents arrest Katy jeweler accused of swindling hundreds of thousands of dollars from customers
Prosecutors say Mora, a co-owner of Alku Modern Jewelers in Katy, got a total of $500,00 in merchant cash advances using his business partner’s good credit in an effort to pay back a customer for a pre-paid $3.9 million Rolex watch that was never delivered.
They said Mora had admitted to his business partner that he had used his partner’s identity to get the cash advances.
Mora was taken into custody in Miami, Florida, in June 2021 after he didn’t show up to court, according to the DOJ.
After serving his 27-month sentence, Mora will be under supervised release for another three years.
RELATED: Man claims he paid for engagement ring that Katy jewelry store won’t let him have
In May 2021, we told you the story of John Holden, who said he paid cash upfront at the jewelry store for an engagement ring that was supposed to be ready two weeks later.
“After that, they kind of ghosted me. Quit answering texts,” Holden said. “It was one thing after another.”
Holden never got the ring, spoiling his plan to propose to his girlfriend. When he went back to the store, an eviction notice was on the front door.
After our report aired, more victims came forward claiming they were swindled by Mora.
Watch collector Nick Taijan said he paid Mora $26,300 last October for two rare watches he never got.
“Rolex Daytona white dial and black dial,” Tajain said. “They’re very hard watches to get.”