Dram Man: Kyopo busted for selling fake watches

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Tuesday, August 08, 2006

Kyopo busted for selling fake watches

From the Joongang:

Lee Dong-jin, who also goes by Phillip Lee, was detained by police. Another man, 41, who manufactured and supplied the watches, is being investigated, police said.

Mr. Lee earned 700 million won ($726,000) by selling about 300 watches with a manufacturing cost of 80,000 to 3 million won at excessive prices, ranging from 5.8 million to 97.5 million won, starting in March 2005, police said...

"I admit that some of the allegations [about the watch parts] are true for the 200 watches that were made as gifts, not for sale," Mr. Lee told the JoongAng Daily. He said, however, that all of the watches were made in a factory in Switzerland...

Police said the watches were made in Siheung, Gyeonggi province, with components imported from China.

How did Lee sell them, he used the now in vogue "the sock":

Mr. Lee allegedly advertised that the watches were purchased by Queen Elizabeth II, Princess Diana and Princess Grace of Monaco. On Internet portal sites, he wrote a posting, asking, "Where can we buy the Swiss watch, Vincent?" and answered himself, police said.

A photo came out with some of the watches sold by Lee. A note to anybody willing to by a "Swiss" watch from a third party, the bands are almost never made of plastic (note the odd shine from the lights).

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