Mount Prospect man accused of selling counterfeit Rolex watches

A Mount Prospect man who prosecutors say was selling counterfeit Rolex watches was ordered held on a $10,000 I-bond Thursday and ordered to submit to electronic monitoring.

Authorities say Yordan Iliev, 33, had luxury watches worth more than $3 million in his home. He is charged with violation of the counterfeit trademark act following an investigation by Mount Prospect police, the Department of Homeland Security, and Kirby & Associates, a private investigation firm hired by Rolex.

In July 2019, Rolex employees learned that someone in Mount Prospect was selling counterfeit watches through a mobile classifieds application, said Assistant Cook County State's Attorney James Costello. The Rolex company contacted Kirby & Associates to investigate. During the investigation, an “undercover operative” purchased one of the watches, Costello said.

Earlier this month, Homeland Security contacted Mount Prospect police about the counterfeit sales, Costello said. On Wednesday, with police providing surveillance, an undercover private investigator for Kirby & Associates arranged to purchase a replica Rolex containing “genuine Rolex logos, labeling, synchronization and weight” for $200 from a home in the 200 block of North Kenilworth Avenue, Costello said.

Iliev was arrested Wednesday after he exited the home and exchanged a “silver Rolex” for $200, Costello said.

Police recovered from the home 80 watches, including “a dozen broken watches which appeared to be in the process of being repaired,” according to Costello, who estimated their retail value exceeded $3.4 million. Of the recovered watches, 33 were Rolexes valued at more than $500,000. Other luxury brands recovered included Audemars Piguet, Panerai Luminor, Richard Mille, Cartier and Patek Philippe, said Costello, adding a Homeland Security analysis of shipping records revealed dozens of international shipments were sent to Iliev's home.

Cook County Judge Ellen Mandeltort ordered Iliev to surrender his passport and prohibited him from engaging in online commerce. He next appears in court on Sept. 3.