BEVERLY HILLS—On January 31, the Department of Justice, U.S. Attorney’s Office for Central California issued a press release announcing the arrest of, Anthony Farrer, of Los Angeles who managed “Timepiece Gentleman,” a consignment store that sold extravagant luxury watches located at 150 S. Rodeo Dr. Suite 120 in Beverly Hills.
Farrer pleaded guilty in October 2024 to one count of wire fraud and one count of mail fraud. Reports indicate that he has been in federal custody since November 2023.
The Department of Justice (DOJ) U.S. Attorney’s Office, and the IRS issued press releases on January 31, confirming that Mr. Farrer was sentenced to 70 months in Federal prison by U.S. District Judge Josephine L. Staton.
Acting U.S. Attorney, Joseph T. McNally made the following statements regarding the criminal activity of Farrer.
“This defendant stole millions of dollars from customers who trusted him and then used his ill-gotten gains to fund his exorbitant lifestyle. The sentence imposed today sends a message that those who defraud the public will be held accountable.”
According to Akil Davis, the Assistant Director in Charge of the FBI, Los Angeles field office.
“The so-called ‘Timepiece Gentleman,’ was a conman whose time living lavishly ran out when the high-end watch owners he victimized brought his crimes to the attention of law enforcement. This successful prosecution is the result of a collaboration, among local and federal partners working together… to bring Mr. Farrer to justice.
Los Angeles, IRS Criminal Investigations, Special Agent in Charge, Tyler Hatcher made the following statement.
“Mr. Farrer exploited his clients’ trust for personal gain. Instead of making good on his business promises, Mr. Farrer swindled his clients out of money and property to fund his extravagant expenditures, and now he’ll suffer the consequences. IRS-CI is committed to protecting clients and consumers from this sort of dubious behavior, and we are proud to have been a partner in this investigation.”
According to reports, items involved in this case included luxury watches by Rolex, Richard Mille, and Patek Phillipe… that were to be sold on consignment by Farrer for a fiver percent consignment fee. The remaining proceeds were to go to the client.
Reports indicate Farrer did not return unsold merchandise to the clients. He sold the watches and kept the proceeds for himself without the knowledge or permission of his clients.
The following information came directly from the press releases issued by the DOJ and the IRS.
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 IRS-CI, FBI, and the Beverly Hills Police Department investigated this matter.
Assistant United States Attorney Joshua O. Mausner of the Violent and Organized Crime Section prosecuted this case.”
By Sharon