Anthony Farrer, a luxury watch seller based in Beverly Hills, has been arrested on charges of scamming customers out of $3 million. Farrer, who operated under the business name The Timepiece Gentleman, sold high-end timepieces to collectors and took a 5% commission on each sale. He flaunted his extravagant lifestyle on social media, showcasing watches worth up to $430,000. However, it was revealed that Farrer had been pocketing the proceeds from the sales instead of paying his clients. Numerous victims reported that they had either not received payment for their watches or had never received the watches back after sending them to Farrer for consignment. The US Attorney’s Office estimates that the total losses for victims currently amount to $3 million. Farrer’s attorney has not responded to requests for comment. Federal court documents indicate that Farrer’s fraudulent activities began in late 2022, shortly after he moved his business from Dallas to Los Angeles. Customers started accusing him of disappearing with their watches or money, leading to an investigation. In August, law enforcement discovered that Farrer’s store in Beverly Hills had shut down, and he had been traveling to various locations. It was revealed that he had used customers’ money to maintain his lavish lifestyle and had even sent customers different watches than what they had requested. One victim claimed to have consigned 75 watches to Farrer, worth $3.2 million, but only received a fraction of the total amount. Farrer confessed his business failings in a video posted on social media, admitting to a gambling problem and falling into debt. He is currently being held without bail at a federal jail in Los Angeles and faces a maximum sentence of 20 years if found guilty of wire fraud. Investigators are continuing to interview additional clients to determine the full extent of the alleged scheme.
FBI Exposes $3 Million Scam: Luxury Watch Seller’s Deceptive Tactics on Rodeo Drive
