LAS VEGAS – A Las Vegas jewelry store owner was sentenced today for purchasing and selling luxury jewelry that he knew was stolen.
Nabil “Bill” Sakkab, 39, of Las Vegas pleaded guilty in July to two counts of receipt and sale of stolen goods. U.S. District Judge James C. Mahan sentenced him to two years in prison, three years of supervised release, and ordered to pay $196,000 in restitution
Sakkab 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,” said Daniel G. Bogden, U.S. attorney for the District of Nevada.
“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 the court records, Sakkab was a partial owner of Red Rock Jewelers in Las Vegas. From Sept, 20, 2011, to Feb. 3, 2012, Sakkab acted as a fence for stolen property by purchasing and selling luxury jewelry stolen by co-conspirator Jeffrey Cochran, who also pleaded guilty to stolen goods charges and is scheduled to be sentenced Nov. 25.
Most of the stolen items sold by Sakkab were high-priced Rolex watches which had been stolen in other states and transported to Las Vegas. Sakkab resold the stolen jewelry at Red Rock Jewelers, and also sold it privately to third parties for personal gain.
The amount of restitution ordered was reduced because of law enforcement’s successful recovery of one of the stolen watches.
The case was investigated by the FBI and the Las Vegas Metropolitan Police Department Special Investigations Section. The case was prosecuted by Assistant United States Attorney Christina M. Brown.
– From news release