{"id":58356,"date":"2025-02-02T11:15:49","date_gmt":"2025-02-02T19:15:49","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=58356"},"modified":"2025-02-02T11:16:34","modified_gmt":"2025-02-02T19:16:34","slug":"former-owner-of-watch-consignment-store-in-beverly-hills-sentenced-to-nearly-six-years-in-prison","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=58356","title":{"rendered":"Former Owner of Watch Consignment Store in Beverly Hills Sentenced to Nearly Six Years in Prison"},"content":{"rendered":"<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\"><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES\u00a0<\/strong><\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">A Los Angeles man who ran a Beverly Hills luxury watch consignment business and was known as \u201cThe Timepiece Gentleman\u201d 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.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 U.S. District Judge Josephine L. Staton sentenced Anthony Farrer, 36, formerly of downtown Los Angeles.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 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.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">&#8220;This defendant stole millions of dollars from customers who trusted him and then used his ill-gotten gains to fund his exorbitant lifestyle,\u201d said Acting United States Attorney Joseph T. McNally. \u201cThe sentence imposed today sends a message that those who defraud the public will be held accountable.\u201d<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"&#039;Timepiece Gentleman&#039; $5M Fraud Exposed: New Details\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/2LAtNpYaUs8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">&#8220;The so-called \u2018Timepiece Gentleman\u201d 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,\u201d said Akil Davis, the Assistant Director in Charge of the FBI\u2019s Los Angeles Field. \u201cThis successful prosecution is the result of a joint collaboration among local and federal partners working together in order to bring Mr. Farrer to justice.\u201d\u00a0<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">&#8220;Mr. Farrer exploited his clients\u2019 trust for personal gain,\u201d said Special Agent in Charge Tyler Hatcher, IRS Criminal Investigation, Los Angeles Field Office. \u201cInstead 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\u2019ll suffer the consequences.&#8221;<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-14844 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2015\/08\/FBI-Logo-300x225.jpg\" alt=\"La Cosa Nostra Convicted Felon Admits to Drug, Prostitution and Weapons Charges\" width=\"300\" height=\"225\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2015\/08\/FBI-Logo-300x225.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2015\/08\/FBI-Logo-45x35.jpg 45w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2015\/08\/FBI-Logo.jpg 640w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-58358\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/watches_1738523268.jpg\" alt=\"\" width=\"1\" height=\"1\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-58358\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/watches_1738523268.jpg\" alt=\"\" width=\"1\" height=\"1\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-58358\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/watches_1738523268.jpg\" alt=\"\" width=\"1\" height=\"1\" \/>Between November 2022 and November 2023, Farrer operated his business, The Timepiece Gentlemen, to link buyers and sellers of luxury watches. <\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">In a typical consignment deal, a client would send him a watch\u2014which could be brands like Rolex, Richard Mille, or Patek Philippe\u2014to be displayed in his Beverly Hills store and promoted online. <\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">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\u2019t sell within a set time or at a set price, he was to return the watch.<\/span><\/p>\n<p style=\"text-align: center;\" data-speechifyplaybackhighlighter-highlight=\"true\"><span style=\"font-size: 21px;\">Instead of doing this, Farrer sold the client\u2019s watches and kept the money. <\/span><\/p>\n<p style=\"text-align: center;\" data-speechifyplaybackhighlighter-highlight=\"true\"><span style=\"font-size: 21px;\">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\u2019t sold yet\u2014even though he had already disposed of it for his own benefit.<\/span><span style=\"font-size: 21px;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-58359\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/watches_1738523366.jpg\" alt=\"\" width=\"1\" height=\"1\" \/><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-58361 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-300x200.jpg\" alt=\"Shinola watch.\" width=\"357\" height=\"238\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-300x200.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-1024x684.jpg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-768x513.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-1536x1026.jpg 1536w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-2048x1367.jpg 2048w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2025\/02\/shinola-watch-stockpack-unsplash-850x568.jpg 850w\" sizes=\"auto, (max-width: 357px) 100vw, 357px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 21px;\">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. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 21px;\">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.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 21px;\">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\u2019s consignment. In effect, Farrer was using one client\u2019s watch to satisfy another, much like a Ponzi scheme, without the clients\u2019 knowledge.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">In total, Farrer fraudulently obtained money and property belonging to more than 40 victims and caused total losses of at least $5,691,005. <\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">Farrer also will be subject to a restitution order for payment owed to victims in amounts to be determined later.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The FBI, IRS Criminal Investigation, and the Beverly Hills Police Department investigated this matter.<\/span><\/p>\n<p class=\"yiv7116158601MsoNormal\" style=\"text-align: center;\"><span style=\"font-size: 21px;\">Assistant U.S. Attorney Joshua O. Mausner of the Violent and Organized Crime Section prosecuted this case.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0LOS ANGELES\u00a0 A Los Angeles man who ran a Beverly Hills luxury watch consignment business and was known as \u201cThe Timepiece Gentleman\u201d was sentenced last week to 70 months in federal prison&#8230;<\/p>\n","protected":false},"author":1,"featured_media":58357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former Owner of Watch Consignment Store in Beverly Hills Sentenced to Nearly Six Years in 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