O’Loughlin, 34, then posed as a watch seller and negotiated a sale price of $68,000 for the watch and got him to pay half as a deposit, and for the remainder to be paid upon delivery.
The victim transferred the money on September 13, 2021, but after a few days became concerned as the watch hadn’t arrived.
‘I’m going to create a shit storm for you’
The court heard O’Loughlin initially blamed Covid-19 lockdown restrictions and later that because it was a purchase from Korea, it was still in transit clearing customs.
But by September 27, the victim knew he had been deceived and after laying a complaint with police, contacted O’Loughlin’s bank and froze his account.
Noticing what happened, O’Loughlin demanded the victim contact the bank to release it, saying if he didn’t, he would “ring my brother”, “ring my family members” and “I’m going to ring people and then I’m going to create a shit storm for you”.
He then told the victim he was committing “coercion” and would be liable for a five-year prison term if convicted and that if he didn’t unfreeze the account he would never see the money or the watch.
Fearing for his safety, the victim agreed and received the watch in the mail on October 8 but was concerned it was a fake.
He took it to The Jewellery Valuation Centre in Auckland which confirmed it was a fake and valued at $250.
Valued between $10 and $100
In August last year, O’Loughlin was now posing as a Rolex watch investor who did e-commerce, and a property investor.
He began chatting with the second victim at his Hamilton workplace about investing in Rolex watches.
O’Loughlin convinced the victim that if he invested $2000-$3000 in buying high-end Rolex watches, he would receive even more in two to three months.
He called the victim on August 17 and the pair agreed to meet the following day at Nando’s in the Centre Place shopping centre, where the victim handed over $750.
O’Loughlin told him he needed a further $1250 at a later date in order to invest in the Rolex watch, which the victim agreed to do.
However, on August 25, O’Loughlin texted him to say the investment price had increased to $4200, while the victim said he was having trouble getting more money.
O’Loughlin got him to then make a series of $250 deposits, and at one point, the victim asked about a contract but was told “Oh we’ll do it later”.
The pair met a couple of days later at a sushi shop where O’Loughlin was given the remaining $1000 for the “investment” and the victim was given a Rolex watch head.
The next day, O’Loughlin texted him again saying he was only given $900, so he transferred another $100, and on August 30 the victim said he had another $1500 he wanted to invest in the watches.
O’Loughlin advised him to “chuck” it his way and he would get a 24% stake in the return.
On September 5, the victim got a valuation report from a Waikato Rolex jewellery dealer who confirmed it was a fake Rolex GMT Master 2ii, 2020 Pepsi Model, black dial valued between $10 and $100.
The victim texted O’Loughlin asking for his money back but didn’t receive a response.
‘Protect the community’
O’Loughlin avoided jail and was instead sentenced to 10 months’ home detention by Judge Kevin Glubb this afternoon.
Judge Glubb told him he had traumatised his victims and that he needed to “protect the community from this type of fraud” while noting O’Loughlin had so far paid back $15,500.
He ordered the remaining $24,400 - which included $900 for the cost of a valuation - to also be paid back.
In agreeing to avoid a jail term, Judge Glubb also noted O’Loughlin’s efforts to rehabilitate; at the time of the first offence he was using meth.
He hadn’t used the drug in two years and had also done a bridge programme and attended restorative justice conferences with his victims.
O’Loughlin is no stranger to the courts. In 2014 he was jailed for 10 months for offering a high school girl the drug ecstasy.
He asked the girl if she wanted to take a pill and go for a drive, but she walked off, “disgusted” by the suggestion, Stuff reported at the time.
Judge Philip Connell said he had no difficulty accepting he was trying to act in a “predatory way”.
Belinda Feek is an Open Justice reporter based in Waikato. She has worked at NZME for nine years and has been a journalist for 20.
