A Los Angeles man, Anthony Farrer, who operated a luxury watch consignment business in Beverly Hills under the name "The Timepiece Gentleman," has been sentenced to 70 months in federal prison. United States District Judge Josephine L. Staton handed down the sentence after Farrer, aged 36, pleaded guilty to wire fraud and mail fraud charges in October 2024. He has been held in federal custody since November 2023.
Farrer's fraudulent activities involved swindling customers out of at least $5.6 million between November 2022 and November 2023. Acting United States Attorney Joseph T. McNally commented on the case: "This defendant stole millions of dollars from customers who trusted him and then used his ill-gotten gains to fund his exorbitant lifestyle."
Assistant Director Akil Davis of the FBI’s Los Angeles Field highlighted the collaboration among law enforcement agencies that led to Farrer's prosecution: "The so-called ‘Timepiece Gentleman’ was actually a con-man whose time living lavishly ran out when the high-end watch owners he victimized brought his crimes to the attention of law enforcement."
Special Agent Tyler Hatcher from IRS Criminal Investigation emphasized their commitment to protecting consumers: "Mr. Farrer exploited his clients’ trust for personal gain... IRS-CI is committed to protecting clients and consumers from this sort of dubious behavior."
Farrer's scheme involved taking possession of luxury watches from clients for consignment sales, promising either sale proceeds minus a fee or returning unsold items. Instead, he kept proceeds for himself or used watches as loan collateral without client knowledge.
He also deceived clients who provided funds for purchasing specific watches by using their money for personal expenses instead, including luxury cars and apartments.
The investigation was conducted by the FBI, IRS Criminal Investigation, and Beverly Hills Police Department, with Assistant United States Attorney Joshua O. Mausner prosecuting.
Farrer will be subject to a restitution order with amounts yet to be determined.