No more “missing” Rolexes appear; Owner accused of fraud

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Authorities in North Carolina announced Monday that a man from Raleigh has been accused of falsely claiming that two Rolex watches were stolen, an apparent ruse to obtain insurance payments.

James Henry Weeks III, 47, has been charged with insurance fraud and attempting to obtain property under false pretenses. Special agents from the North Carolina Department of Insurance said Weeks attempted to obtain $ 8,900 from United Property & Casualty by falsely claiming that the watches were stolen.

Weeks was released on $ 5,000 bail. The ministry did not provide details on the program.

“Insurance fraud hurts consumers,” Insurance Commissioner Mike Causey said in a press release. “About 20% of your insurance premium goes to cover the cost of fraud. “

The case is surprisingly similar to that of a Seattle man who was accused this month of filing a false insurance claim for a $ 14,750 Rolex watch he said he lost while wakeboarding. . USAA Insurance investigators found the man sold his watch to a rare coin dealer in 2020, three weeks after filing the insurance claim.

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