Retail Profiles

Save E-mail Print Most Popular RSS Reprints

Wisc. jeweler indicted in money laundering case

By Michelle Graff
September 17, 2009

Milwaukee--A federal grand jury has issued an indictment alleging that Harry Glinberg, owner of Harry C. Glinberg Jewelers in Wauwatosa, Wisc., engaged in money laundering to avoid reporting transactions that involved the proceeds of drug trafficking, according to the U.S. Attorney's Office in Milwaukee.

Returned on Monday, the five-count indictment charges the 39-year-old Glinberg of Mequon, Wisc., with conspiracy to commit money laundering, failure to file reports with the Financial Crimes Enforcement Network and one count of violating a money laundering "sting provision."

According to a press release, Glinberg was charged based upon a several-year investigation by the Internal Revenue Service, with assistance from agents and officers from the Drug Enforcement Agency and the Milwaukee Police Department.

Glinberg, who has built a reputation as a high-end jeweler to celebrity sports stars, was initially charged in August 2006, according to the release, but the case was dismissed without prejudice--meaning charges could be filed again--in November 2006 due to the need for further investigation and anticipated additional charges.

If convicted, Glinberg faces a maximum penalty of 20 years in prison, a fine of up to $250,000 and up to three years on supervised release.

Reached on Thursday morning at his Wisconsin jewelry store, Glinberg maintained his innocence and said he thought the allegations were behind him after the initial charges were dismissed back in 2006.

"Unfortunately, I'll just have to fight it and prevail in the end," he said.

Glinberg was profiled in an August 2008 story in National Jeweler in which he detailed how he built a business servicing some of the nation's top athletes via word-of-mouth marketing and selling on slim margins.

The jeweler told National Jeweler that he would fly to meet athlete clients in their hotel rooms when they were out of town and send limousines to transport them to his store when they were in Milwaukee, where he stocks at least $3 million in inventory.

Glinberg said that he bought his business for $25,000 in 1998, and that the store grossed more than $4 million a year, thriving on personal relationships, value and integrity.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Retail Profiles

Valobra Jewelry and Antiques New Orleans location
Hurricane Katrina strengthens jeweler's business

Big Easy jeweler Valobra Jewelry and Antiques lost business to Hurricane Katrina, but the setback inspired some smart moves, including the opening of a new store in Houston. Read More

Poole's and Parle partner for breast cancer
Jeweler to auction $10K shopping spree
Is interactive the next act for jewelers?
O.C. Tanner completes $24 million renovation
More Retail Profiles

More Like This

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement