Bling king given three years'

By: opendoor Category: Date: 27/07/2010 13:24:42 Rating: 0.00 Views: 0

A HATTON Garden jeweller who bought stolen designer watches and jewellery has been jailed for three years.

Alexandros Kyriacou, 45 and a father-of-five, of Station Road, Cold Norton, stocked up with Rolex, Cartier and Jimmy Choo pieces, supplied by an undercover police officer at knockdown prices.

But just as he was about to hand over Pounds 14,000 for Pounds 70,000-worth of Rolexes, police swooped to cuff him, a judge heard at Southwark Crown Court on Monday.

Kyriacou courted publicity in June last year, shortly before his arrest, when his photograph was published by the Sun.

Bedecked in bling he was quoted as saying: "The rush to sell gold is on the TV and in papers, loads of adverts asking people to sell off their gold.

Effective "It's an effective way to raise some cash, but I do sometimes wonder just how hard up these people really are - the other day we had some gold teeth brought in."

The court heard how police searched his Greville Street shop and found a brand new laptop recently stolen from a hospital, and a Pounds 1,095 Cartier watch taken from a raid on a Kilburn pawnbrokers.

Detectives also discovered papers to a safety deposit box where Kyriacou had stashed Pounds 60,000 cash.

He had also cheated the taxman out of nearly Pounds 200,000 when he applied for a second mortgage on his luxury Essex manor house.

Gerard Pounder, prosecuting, said Kyriacou was the sole director of an instant liability company called Go 4 Gold ed hardy clothing Ltd.

He had set up the business in 2002 after years working as a van driver and bouncer.

Police put the shop under surveillance in 2008 sending in an undercover officer called 'Adam'. And over the next few days, Kyriacou bought a number of items, including a Rolex and a Jaeger Le- Coutre Reverso watch worth Pounds 2,750 before agreeing to pay Pounds 14,000 for eight stolen Rolexes.

Mr Pounder added: "He also made pandora beads wholesale underpayment on VAT by not declaring his full income in the region of Pounds 191,000."

Judge John Price told Kyriacou: "You bought and sold stolen jewellery and watches. You rose from being a van driver to running a quite successful business but you cheated the revenue of Pounds 191,000.

"The police sent in an undercover agent ... and you were prepared to deal in goods worth around Pounds 80,000."

Kyriacou, who admitted handling stolen goods, attempting to handle stolen goods and cheating the public revenue, was jailed for three years.

He was also disqualified from being a company director for six years and ordered to pay costs of Pounds 9,525.

A confiscation hearing is likely to take place in November.