Palm Beach jewelry store owner arrested for counterfeiting money

Editor’s note: This story was updated at 4:30 p.m. on June 7, 2024, after police revised the value of the items from $1 million to $2 million.

A Hypoluxo woman has been accused of selling approximately $2 million worth of counterfeit luxury goods at two jewelry stores near her in Palm Beach.

Olena Austin, 52, was arrested Thursday following a city police investigation that lasted more than six months, according to a probable cause affidavit.

Austin, the owner of Blesk Jewelry at 350 S. County Road and 313 Worth Ave., was charged with selling or offering to sell counterfeit goods or services valued at more than $20,000. She was arrested at her South County Road store, which had a “Closed” sign posted in the window Friday.

Palm Beach jewelry store owner arrested for counterfeiting money

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Police alleged Austin sold counterfeit clothing and jewelry with the brand names Chanel, Pucci, Van Cleef & Arpels, Tiffany, Rolex, Versace and Bottega Veneta. She was released on $50,000 bail on Friday.

“The Palm Beach Police Department has a close relationship with our vibrant and historic business community, so when we were alerted by Blesk to the sale of counterfeit goods, we took the matter seriously,” police spokesman Captain Will Rothrock told the Daily News. “This is not a victimless crime. Crimes like this have a real impact on our legitimate local businesses and threaten to tarnish the hard-earned reputation of the city’s retail community.”

Through its Organized Crime, Vice and Drug Trafficking Unit, Palm Beach Police launched Operation Worth-Less in October 2023 after receiving information from the FBI about the ongoing sale of counterfeit clothing and jewelry at both Blesk Jewelry locations, the affidavit states.

In November, an undercover agent entered Blesk’s premises on South County Road and noticed two pairs of stud earrings that resembled the Chanel logo, as well as clothing items with white labels and the black lettering “Pucci.”

The detective asked the salesman if the clothes were “real Pucci” and the salesman replied that they were. The detective then bought a multi-colored Pucci shirt.

On June 4, a Pucci representative confirmed that the shirt was a fake.

On May 23, an undercover detective entered the Blesk store on Worth Avenue and learned from Austin that the items sold in the store featured “heavily influenced” designs but were not authentic, the affidavit states.

Austin led the detective to a pair of Chanel-style earrings that were presented as genuine 14-karat gold. The officer agreed to purchase the earrings for $694 and received a handwritten receipt for “CC 14k gold stud earrings.”

On May 29, a Chanel representative confirmed that the earrings were fake.

On May 30, an undercover officer entered the Blesk store on South County Road and spoke with Austin, who voluntarily retrieved a jewelry display case containing clover-style jewelry in the shape of items designed by Van Cleef & Arpels. The items were retrieved from the back of the store and were not on display, the affidavit states.

The detective purchased a Van Cleef-style bracelet with four leaf clovers and received a handwritten receipt. On June 3, a representative from Van Cleef & Arpels confirmed that the bracelet was a fake.

Search warrants for both stores were obtained on Tuesday and executed two days later. With the help of brand representatives, hundreds of counterfeit items from both stores were identified, according to the affidavit.

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