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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Transmission: 9-speed auto
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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
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Griselda
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Conservative MPs who have publicly revealed sending letters of no confidence
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Asia Cup Qualifier
Venue: Kuala Lumpur
Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September
Fixtures:
Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
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Thu Sep 6: Final
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
