“The Timepiece Gentleman” Ran Luxury Watch Scheme, Defrauded Clients
“The Timepiece Gentleman” was sentenced Wednesday to 70 months in federal prison for defrauding dozens of customers out of at least $5.6 million through his Beverly Hills luxury watch consignment business.
Anthony Farrer, 36, formerly of downtown Los Angeles, was sentenced by U.S. District Judge Josephine L. Staton after pleading 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.
“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 U.S. Attorney Joseph T. McNally. “The sentence imposed today sends a message that those who defraud the public will be held accountable.”
Authorities said Farrer operated his business, also called “The Timepiece Gentleman,” as a high-end watch consignment service, connecting buyers and sellers of luxury watches, including brands such as Rolex, Richard Mille, and Patek Philippe. Under typical consignment agreements, clients would ship their watches to Farrer, who agreed to display and market them at his Beverly Hills store and online. Once a watch was sold, Farrer was supposed to remit the sales proceeds to the client minus a consignment fee of approximately 5%. If a watch remained unsold, Farrer was expected to return it to the client.
Instead, federal prosecutors said Farrer sold client watches and kept the proceeds. In some cases, he used client watches as collateral for personal loans without their knowledge or permission. When questioned about the status of a consigned watch, Farrer falsely told clients the watch had not yet been sold despite having already disposed of it for personal gain.
Farrer also purported to purchase watches on behalf of clients, accepting funds via wire transfer or payment processors such as Zelle. However, he used the money to finance his luxury lifestyle, which included leasing high-end cars, apartments, and other extravagant purchases. In some instances, he sent clients substitute watches—often belonging to other unwitting customers—to create a false sense of security regarding the status of their transactions. Prosecutors compared the scheme to a Ponzi operation.
“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, Assistant Director in Charge of the FBI’s Los Angeles Field Office.
Farrer defrauded more than 40 victims, causing total losses of at least $5,691,005. He will also be subject to a restitution order, with the exact amount to be determined.
The FBI, IRS Criminal Investigation, and the Beverly Hills Police Department conducted the investigation. Assistant U.S. Attorney Joshua O. Mausner of the Violent and Organized Crime Section prosecuted the case.
