E. Martin Estrada, U.S. Attorney | U.S. Attorney's Office for the Central District of California
A Los Angeles man, Anthony Farrer, who ran a luxury watch consignment business in Beverly Hills known as "The Timepiece Gentleman," has been sentenced to 70 months in federal prison. Farrer, aged 36, was found guilty of swindling customers out of at least $5.6 million. The sentencing was delivered by United States District Judge Josephine L. Staton.
Farrer admitted guilt in October 2024 to charges of wire fraud and mail fraud and has been detained since 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.”
Akil Davis, Assistant Director in Charge of the FBI’s Los Angeles Field Office, stated: “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 highlighted that Farrer exploited client trust for personal gain instead of fulfilling business promises.
Between November 2022 and November 2023, Farrer operated "The Timepiece Gentlemen" business connecting buyers and sellers of high-end watches such as Rolex, Richard Mille, and Patek Philippe. Clients would send their watches for consignment sales or funds for purchasing specific watches. However, instead of returning sales proceeds or unsold items to clients, Farrer kept the money or used the watches as collateral for loans without client consent.
In addition to selling client watches without permission, he also diverted client funds intended for watch purchases towards maintaining an extravagant lifestyle involving luxury cars and apartments. He often sent other clients' watches temporarily to placate inquiries about pending transactions.
The fraudulent activities impacted over 40 victims with losses amounting to at least $5,691,005. Restitution amounts will be determined later as part of Farrer's sentence.
The investigation involved collaboration between the FBI, IRS Criminal Investigation Division, and Beverly Hills Police Department. The prosecution was led by Assistant United States Attorney Joshua O. Mausner from the Violent and Organized Crime Section.
