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The only risk would be if he owes someone else money, related to bankruptcy within two years or so of selling you the watches - AND if you gave him far less than market value.
His status won't lower the value of the watch when you sell it. If the buyer recognizes the name just say "wow, it's a common name. Probably lots of people with that name. Want the watch at the price i'm offering?" You don't have to declare "previously owned by a criminal" when you sell this.
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