LOS ANGELES
A Los Angeles man who ran a Beverly Hills luxury watch consignment business and was known as “The Timepiece Gentleman” was sentenced last week to 70 months in federal prison for swindling dozens of his customers out of a total of at least $5.6 million, officials stated.
U.S. District Judge Josephine L. Staton sentenced Anthony Farrer, 36, formerly of downtown Los Angeles.
Farrer pleaded 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, according to authorities.
“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 United States Attorney Joseph T. McNally. “The sentence imposed today sends a message that those who defraud the public will be held accountable.”
“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, the Assistant Director in Charge of the FBI’s Los Angeles Field. “This successful prosecution is the result of a joint collaboration among local and federal partners working together in order to bring Mr. Farrer to justice.”
“Mr. Farrer exploited his clients’ trust for personal gain,” said Special Agent in Charge Tyler Hatcher, IRS Criminal Investigation, Los Angeles Field Office. “Instead of making good on his business promises, Mr. Farrer swindled his clients out of money and property to fund his own extravagant expenditures, and now he’ll suffer the consequences.”
Between November 2022 and November 2023, Farrer operated his business, The Timepiece Gentlemen, to link buyers and sellers of luxury watches.
In a typical consignment deal, a client would send him a watch—which could be brands like Rolex, Richard Mille, or Patek Philippe—to be displayed in his Beverly Hills store and promoted online.
Once the watch sold, Farrer was supposed to send the sales money back to the client after deducting about a 5% consignment fee. If the watch didn’t sell within a set time or at a set price, he was to return the watch.
Instead of doing this, Farrer sold the client’s watches and kept the money.
He even used their watches as collateral for loans without their permission. When clients asked about a watch on consignment, he falsely claimed it hadn’t sold yet—even though he had already disposed of it for his own benefit.
In addition to selling consigned watches, Farrer also claimed he would purchase watches on behalf of clients. Clients would send him money, typically via wire transfer or payment apps like Zelle, so he could buy a specific watch for them.
Rather than using the funds as promised, Farrer diverted the money to fund his lavish lifestyle by buying or leasing luxury cars, apartments, and other expensive items.
If a client inquired about the status of a watch purchase, Farrer often sent a different watch to placate them. This replacement watch usually belongs to another client’s consignment. In effect, Farrer was using one client’s watch to satisfy another, much like a Ponzi scheme, without the clients’ knowledge.
In total, Farrer fraudulently obtained money and property belonging to more than 40 victims and caused total losses of at least $5,691,005.
Farrer also will be subject to a restitution order for payment owed to victims in amounts to be determined later.
The FBI, IRS Criminal Investigation, and the Beverly Hills Police Department investigated this matter.
Assistant U.S. Attorney Joshua O. Mausner of the Violent and Organized Crime Section prosecuted this case.