Fake Rolex Theft: An Iowa man will spend the next decade behind bars after admitting to an elaborate insurance fraud scheme involving counterfeit Rolex watches.
Bryce Douglas Murphy, 33, of Peosta, pleaded guilty to Insurance Fraud and Fraudulent Practice, both Class D felonies. Investigators from the Iowa Insurance Division’s Fraud Bureau uncovered the scam, leading to his conviction.
The Fraudulent Rolex Claim
Murphy filed an insurance claim, falsely reporting that two Rolex watches had been stolen from his hotel room while attending an NFL game. To support his claim, he submitted fabricated documents, including a fake purchase receipt for the watches.
However, investigators discovered that Murphy had pulled the same scheme before. In 2019, he filed a nearly identical claim with another insurer and received a $9,998 payout. Further analysis revealed that the Rolex watches were counterfeit, and Murphy had forged the purchase receipt. Fake Rolex Theft
Authorities arrested Murphy on June 12, 2023.
Sentencing and Penalties
After pleading guilty, Murphy received a 10-year prison sentence and was ordered to pay $2,395 in fines.
The Iowa Insurance Division emphasized its commitment to cracking down on fraudulent claims.
Source: Iowa Insurance Division
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