February 18, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

High-End Beverly Hills Watch Dealer Sentenced to Over 5 Years for $5.6M Fraud

“The Timepiece Gentleman” Ran Luxury Watch Scheme, Defrauded Clients

“The Timepiece Gentleman” was sentenced Wednesday to 70 months in federal prison for defrauding dozens of customers out of at least $5.6 million through his Beverly Hills luxury watch consignment business.

Anthony Farrer, 36, formerly of downtown Los Angeles, was sentenced by U.S. District Judge Josephine L. Staton after pleading guilty in October 2024 to one count of wire fraud and one count of mail fraud. He has been in federal custody since November 2023.

“This defendant stole millions of dollars from customers who trusted him and then used his ill-gotten gains to fund his exorbitant lifestyle,” said Acting U.S. Attorney Joseph T. McNally. “The sentence imposed today sends a message that those who defraud the public will be held accountable.”

Authorities said Farrer operated his business, also called “The Timepiece Gentleman,” as a high-end watch consignment service, connecting buyers and sellers of luxury watches, including brands such as Rolex, Richard Mille, and Patek Philippe. Under typical consignment agreements, clients would ship their watches to Farrer, who agreed to display and market them at his Beverly Hills store and online. Once a watch was sold, Farrer was supposed to remit the sales proceeds to the client minus a consignment fee of approximately 5%. If a watch remained unsold, Farrer was expected to return it to the client.

Instead, federal prosecutors said Farrer sold client watches and kept the proceeds. In some cases, he used client watches as collateral for personal loans without their knowledge or permission. When questioned about the status of a consigned watch, Farrer falsely told clients the watch had not yet been sold despite having already disposed of it for personal gain.

Farrer also purported to purchase watches on behalf of clients, accepting funds via wire transfer or payment processors such as Zelle. However, he used the money to finance his luxury lifestyle, which included leasing high-end cars, apartments, and other extravagant purchases. In some instances, he sent clients substitute watches—often belonging to other unwitting customers—to create a false sense of security regarding the status of their transactions. Prosecutors compared the scheme to a Ponzi operation.

“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,” said Akil Davis, Assistant Director in Charge of the FBI’s Los Angeles Field Office.

Farrer defrauded more than 40 victims, causing total losses of at least $5,691,005. He will also be subject to a restitution order, with the exact amount to be determined.

The FBI, IRS Criminal Investigation, and the Beverly Hills Police Department conducted the investigation. Assistant U.S. Attorney Joshua O. Mausner of the Violent and Organized Crime Section prosecuted the case.

in News
Related Posts

Culver City Police Seek Suspect in Weekend Battery Incident

February 18, 2025

February 18, 2025

Man Accused of Assaulting a Victim is Still at Large Authorities are asking for the public’s assistance in identifying a...

Metro LA to Begin Ticketing Bus Lane Violators with Camera Enforcement

February 17, 2025

February 17, 2025

Motorists Parked in Bus Lanes Will Face $293 Fines For Each Infraction Drivers who park in bus lanes will soon...

The Department of Public Health to Hold Virtual Town Hall on Post-Fire Air, Soil, and Water Safety

February 17, 2025

February 17, 2025

LA County Officials Will Discuss Environmental Testing, Recovery Efforts The Los Angeles County Department of Public Health will hold a...

Los Angeles County Launches $32.2 Million Relief Grant for Wildfire Victims

February 17, 2025

February 17, 2025

Eligible Households Affected by the Palisades Fires Can Apply Soon The Los Angeles County Department of Consumer and Business Affairs...

(Video) Enjoy Beach Proximity and Prime Amenities at Ocean View Hotel

February 17, 2025

February 17, 2025

For More Info, Go To Oceanviewsantamonica.com For More Info, Go To https://t.co/mHryynLSBp pic.twitter.com/2ELEuBFeS4 — CCNewsLA (@CCWNNews) February 17, 2025

Iconic Gloria Vanderbilt Estate Hits the Market for the First Time in 72 Years

February 16, 2025

February 16, 2025

Historic Beverly Hills Mansion With Star-Studded Past Listed at $16.5 Million For the first time in 72 years, the historic...

Get Your Collector’s Edition of Anora Screenplay This Week

February 16, 2025

February 16, 2025

Exclusive Giveaway at Top Indie Bookstores in Los Angeles Neon is celebrating the success of Anora by partnering with independent...

Melrose Avenue Businesses Forced to Close After Floodwaters Inundate Stores

February 16, 2025

February 16, 2025

Heavy Rains Turned Melrose Avenue Into a River, Causing Severe Damage  Heavy rainfall in the Fairfax District caused flooding on...

State Farm Faces Scrutiny Over Emergency Rate Hike Request From State Official

February 16, 2025

February 16, 2025

Commissioner Lara Demands Answers on Financial Stability and Consumer Impact California Insurance Commissioner Ricardo Lara has responded to State Farm’s...

UCLA Suspends Pro-Palestinian Student Groups Following Protest at UC Regent’s Home

February 13, 2025

February 13, 2025

Chancellor Cites Potential Student Code Violations; Student Groups Reject Allegations UCLA has suspended two pro-Palestinian student organizations following a protest...

Flash Flood Warning Issued for Burn Areas, LAFD Officer Swept off Road by Debris

February 13, 2025

February 13, 2025

Storm Damage Closes Pacific Coast Highway, Officials Urge Caution Not even members of the LAFD are being spared from the...

Culver City Police Investigate Disturbing Incident in Culver City Park

February 13, 2025

February 13, 2025

Police Secure Area as Investigation Unfolds on Thursday Morning The Culver City Police Department received a call around 7:23 a.m....

Here are Your Last Minute Ideas if You Still Haven’t Planned Your Valentine’s Day Date

February 13, 2025

February 13, 2025

Luscious Cookies, Delightful Drinks, Full Dinners at Home or In House, We’ve Got Them Okay, maybe you have been a...

Beloved Baldwin Hills Family-Owned Restaurant Post & Beam to Close After 13 Years

February 12, 2025

February 12, 2025

Community Icon Shuts Doors as Baldwin Hills Crenshaw Plaza Redevelopment  In yet another loss for the Los Angeles culinary community,...

Santa Monica Hotel Event Space Offers Affordability, Accessibility

February 12, 2025

February 12, 2025

Elevate Your Events with Versatile Venues and Exceptional Service Coastal stays and eclectic event spaces don’t have to be expensive....