Swatch Group’s Omega brand filed a criminal complaint with Swiss prosecutors over the sale of a fake Speedmaster watch it bought at an auction for a record price of more than $3 million.
A spokesman in the Bern prosecutor’s office confirmed receipt of the complaint, but declined to say whether a criminal investigation had been started.
Omega alleged former employees conspired with others to produce a “Frankenstein” version of a vintage Speedmaster.
An amalgam of time-period correct and allegedly inauthentic components, the watch was sold by auction house Phillips in Geneva in 2021 for a record price of more than 3.1 million Swiss francs ($3.6 million).
Omega was the buyer and previously said that three former employees, including one that worked at the brand’s museum, were involved in the alleged criminal plot.
News of the bogus watch sent shock waves through the Swiss luxury watch and auction communities last month when details first emerged.
Online blogger Jose Perez’s website Perezcope first raised questions about the authenticity of the watch in April and Swiss newspaper NZZ published a story in June alleging the former Omega employees had assisted others in Switzerland who were involved in constructing the watch before it was consigned to Phillips.
Omega and parent company Swatch Group AG declined to comment. A representative for Phillips said the auction house welcomed the investigation and looks forward to seeing the outcome of the findings.
Phillips is co-operating “in full” with the authorities.
“We are expecting to be contacted by the prosecutor’s office and are ready to hand over all our evidence relevant to this transaction as soon as that happens,” the representative said.
Omega previously said that Phillips had not disclosed who sold the watch purported to have been produced in 1957.
The auction house said it would disclose the seller’s identity if requested by police or prosecutors.
Known for its Speedmaster and Seamaster models, Omega is the third-largest Swiss watchmaker by revenue, with sales of about 2.5 billion francs last year, according to Morgan Stanley estimates.
The brand generated more than half of Swatch Group’s pretax earnings from watches in 2022, Morgan Stanley said.
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Read more from Johann Chacko
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The Laughing Apple
Yusuf/Cat Stevens
(Verve Decca Crossover)
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
More from Neighbourhood Watch:
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
