"The Timepiece Gentleman" Pleads Guilty to $5.6 Million Fraud Scheme

Anthony Farrer, a Los Angeles watch dealer, admitted to defrauding clients out of millions, the DOJ says.Photo byJohn TorcasioonUnsplash

A Los Angeles man known as “The Timepiece Gentleman,” who operated a Beverly Hills luxury watch consignment business, pleaded guilty today to defrauding dozens of customers out of at least $5.6 million, the U.S. Attorney’s Office for the Central District of California announced.

Anthony Farrer, 36, formerly of downtown Los Angeles, admitted guilt to one count each of wire fraud and mail fraud. He has been in federal custody since November 2023, according to the department.

According to his plea agreement, Farrer's fraudulent activities spanned from November 2022 to November 2023.

During this time, he used his business—also called “The Timepiece Gentleman”—to connect buyers and sellers of high-end watches.

Customers would ship luxury timepieces, including Rolex, Richard Mille, and Patek Philippe, to Farrer for consignment, the department says.

Farrer promised to display the watches at his Beverly Hills store and market them online. Upon sale, he was supposed to return the proceeds to clients, minus a 5% consignment fee, according to the U.S. Attorney's Office.

If a watch didn’t sell within an agreed timeframe, Farrer was expected to return it to the client. Instead, Farrer sold the watches and kept the money. In some cases, he used the watches as collateral for personal loans, without informing the clients.

When customers inquired about their items, Farrer lied, claiming the watches hadn't sold, while he had already disposed of them for personal gain, according to the department.

Farrer also purported to buy watches for clients, taking funds via wire transfers or payment processors such as Zelle.

Instead of purchasing the watches, he used the money to finance a lavish lifestyle that included luxury cars, high-end apartments, and other goods.

When a client pressed for information on a delayed purchase, Farrer would send another watch—usually one consigned by another client—without their knowledge, to lull the client into a false sense of security, the department stated.

In total, Farrer’s fraudulent activities affected over 40 victims, resulting in losses exceeding $5.6 million, the department says.