CEO of San Francisco web-based luxury watch and jewelry businesses arrested 

He went from selling gold watches to wearing silver bracelets.

The CEO of a San Francisco-based luxury watch and jewelry business was arrested Thursday and is accused of five counts of grand theft against multiple victims, with some as far away as France, the District Attorney's Office said.

Roger Kuo, 44, of San Francisco, runs two websites - thefinestwatches.com and thefinestjewelry.com - that he allegedly used to lure "consumers to wire him money for luxury watches ranging in price from $16,000 to $34,000" but failed to deliver any watches or return customers' money, said Alex Bastian, a spokesman for the District Attorney's Office.

Kuo is also accused of offering customers the opportunity to trade in old watches for new, without providing the new watch or returning the watches that were trade in. He is also accused of offering to sell a diamond ring worth $35,000 on consignment but then failing to pay the customer once the ring was sold, Bastian said.

On the Yelp review page for thefinestwatches.com, there are seven reviews, five of which are positive. One negative reviewer said the watch they purchased "had nothing but various problems with it," and the other claimed the company had sold their watches on consignment but were never paid. They ended their post saying they were taking legal action.

The watches Kuo reportedly deals in are luxury brands such as Cartier, Rolex and Franck Muller, among other brands.

San Francisco District Attorney's Office investigators picked Kuo up Thursday in his San Francisco office based on the 300 block of Post Street, Bastian said. His bail was set at $125,000.

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