A WEALTHY businessman from Lancashire lied to claims investigators when he realised his stolen £120,000 Rolex Oyster Perpetual watch would not be covered by his insurance, a court has heard.
The diamond-encrusted gent's platinum watch was among valuables burgled from the mansion of property developer Toby Whittaker in December 2008.
Whittaker, 32, of Read, in the Ribble Valley, initially told police the watch was taken from his bedroom while he was out enjoying a meal with his wife, but gave a different story to insurers and said it was snatched from an underfloor safe in the home, Preston Crown Court was told.
The limited edition timepiece was only covered for theft if the owner wore it, stored it in a safe or kept it at their side if they took it off. The defendant was also said to have panicked when he wrongly thought the whole claim would be invalidated because the house alarm was not set.
He is alleged to have then conspired with a director of the alarm firm to make a false report that stated the alarm had not activated for technical reasons which was no fault of the householder.
Whittaker denies one count of conspiracy to defraud Zurich Insurance and one count of fraud.
Three hooded men struck at his home in Back Lane and smashed his front door down before they ransacked the property of the watch, jewellery, guns and £20,000 in cash.
They then loaded the haul into Whittaker's Range Rover vehicle and made off.
The defendant raised the alarm when he returned home on the evening of December 19.
Andrew Longworth, prosecuting, said Whittaker told a police constable at the crime scene that the alarm had not been set and his wife, Jennifer, further explained they would not activate it if they left the house for a short period of time.
Ironically his top-level insurance did not require the alarm to be set, added the prosecutor, so his actions were "all for nothing".
But he said the essence of the offence was the agreement to tell a lie.
Whitworth also went on to tell a claims investigator that the thieves must have found the key to the safe and stole his watch and cash. The trial, expected to last three days, continues.
Masked men raid luxury home of Read businessman
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