Police say a second-hand dealer was busted with luxury watches and uncut diamonds worth R8 million.
A Daily Voice source reveals the dealer’s store in Long Street was raided on Monday.
“That guy runs one of those cash-for-gold shops in Long Street and on Monday he was raided by the Flying Squad,” says the source.
“They received a tip-off from someone about a stolen watch and they went to the premises.
“This guy is reselling expensive larney watches like Rolex and Tag Heuer that go for thousands of rands.”
The source says cops found over 50 watches, several uncut diamonds and other gems.
“He could not explain where he got it and had no paperwork so he was arrested and will be investigated further.
“At this stage it is not clear if it was smokkeled into the country or if he was holding it for someone but it’s definitely for the black market.”
Police spokesperson Captain FC van Wyk says the bust was made by the Maitland Flying Squad who confiscated 51 watches and gems.
“The members continued to search the premises and found a lot of presumed uncut diamonds and different coloured gemstones.
“A total of 544 gemstones were seized.
“The estimated value of all items that were confiscated are estimated at R8 million.”
He says a 45-year-old man was arrested and charged for possession of stolen property and will appear in the Cape Town Magistrates’ Court today.