Man Charged With Insurance Fraud After “Lost” Rolex Found In Jewelry Store

Time may be gold, but Washington man could get more than he bargained for after being accused of filing a false statement of insurance for a Rolex luxury watch he claimed to be “lost”.

Christopher Michalke of Seattle, WA was indicted by King County Superior Court with one count of filing a false statement of insurance for a $ 14,753 Rolex watch following an investigation conducted by the Criminal Investigations Unit (CIU) of Washington’s Insurance Commissioner Mike Kreidler.

According to the CIU, Michalke purchased a “valuable personal property” insurance rider from the USAA in August 2019. The policy was supposed to cover his Rolex Submariner, which he bought in 2018 for $ 14,753. About a year after purchasing the pilot on August 7, 2020, Michalke filed a claim with the USAA saying he lost the watch while wakeboarding on Lake Washington about three days before.

But a USAA investigator uncovered evidence that Michalke sold his watch to a jewelry store, Bellevue Rare Coins, for $ 8,750 on August 28, 2020 – just 21 days after filing the claim. The USAA denied the request and referred the matter to the CIU.

A statement from the Washington Insurance Commissioner’s office says Michalke is scheduled to appear in court on October 25, 2021 for a hearing.