Rolex Theft: One Night in Bangcock and the World’s Your Oyster

761 reports that Ivan Lee Yu Guang (wrist not shown) has a gambling problem. And when you have a gambling problem you have debts — with people who operate on the assumption that if you have kneecaps you have credit. Which means you have to pay, one way or the other. Mr. Guang knew it was time, and he knew how to raise the money . . .

On 6 March last year, while Lee was at his girlfriend’s flat, he searched the house while she was sleeping.

He found a Rolex watch belonging to his girlfriend’s sister and stole it. The watch was worth $8,788. He then pawned the watch at ValueMax at Sengkang Square for $5,000. He kept $500 for his own use and used the remaining sum to pay off gambling debts.

The next day, the couple left the flat to catch a flight to Bangkok. Lee locked the gate and door but failed to return the keys to his girlfriend.

On 10 March, while in the Thai capital, Lee told his girlfriend about his aunt’s hospitalisation at around 6am. The girlfriend helped him buy a last-minute flight ticket home.

Lee landed in Singapore at 10.30am that day and immediately went to the flat and opened it with the keys. He went to the girlfriend’s bedroom and stole her Rolex watch worth $5,588.

Lee then pawned the watch for $2,550 at Maxi-Cash in Serangoon Central. He used the money to pay gambling debts.

The next day, when the girlfriend returned to Singapore, Lee texted her to claim that the two Rolex watches belonging to her family were stolen by a friend whom he had brought to the flat. Hours later, Lee caught a flight to Bangkok, where he stayed for three and a half months.

And when Mr. Guang returned to SIngapore — huh? — he was arrested, charged, convicted and jailed. Lessons learned? Gambling addiction sucks. Gambing addicts are liars and, by the looks of it, stupid. But when it comes to getting fast cash, Rolex’s are money in the bank.

Sure Mr. Guang had to take a big hit on depreciation — $3,788 for Rolex number one, $3,038 for Rolex number two — but what else are you going to pawn that will take less of a whack?

Which means owning a Rolex is good for emergency funds, and, as we’ve reported and warned, a magnet for criminals. Wear one at your risk.


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