Beverly Hills Watch Dealer Anthony Farrer Pleads Guilty to $5.6 Million Fraud Scheme

Anthony Farrer, widely recognized as “The Timepiece Gentleman,” has pleaded guilty to wire fraud and mail fraud charges after admitting to a scheme that defrauded his clients out of at least $5.6 million. Operating from November 2022 to November 2023, Farrer used his Beverly Hills luxury watch consignment business to attract clients looking to buy or sell high-end timepieces, including renowned brands like Rolex, Richard Mille, and Patek Philippe.

Farrer’s business model involved clients sending their luxury watches to his store with the understanding that the items would be displayed for sale both in-store and through extensive online and social media marketing. He promised that, once a watch was sold, the proceeds—minus a 5% consignment fee—would be sent back to the client. If a watch did not sell within a specified time frame, Farrer was supposed to return the watch itself to the client. However, instead of honoring these commitments, Farrer misappropriated the proceeds from the sales of these watches.

In many instances, he used the watches as collateral for personal loans from various lenders, without the knowledge or consent of the original owners. This allowed him to secure funds for his own use while keeping clients in the dark about the status of their property. When clients inquired about their consigned watches, Farrer falsely claimed that the watches had not yet sold or that he was still seeking buyers, when in reality, he had already sold or otherwise disposed of the items.

Farrer’s actions not only deprived clients of their rightful funds but also violated the trust that is essential in consignment arrangements. His deceitful conduct continued for a full year before his arrest in November 2023, at which point he was taken into federal custody. He is currently awaiting sentencing, which is scheduled for January 31, 2025, and faces a maximum sentence of 20 years in federal prison for each count of wire fraud and mail fraud.

Fraud Charges in High-End Watch Consignment

Farrer’s fraudulent activities extended beyond simply misappropriating luxury watches from his clients. In addition to selling watches without client permission, he also deceived clients who wired him funds to purchase specific high-end watches on their behalf. Instead of using these funds as intended, Farrer diverted the money to support his own lavish lifestyle, including purchasing or leasing luxury cars, high-end apartments, and expensive personal items.

When clients reached out to inquire about the status of their watch purchases, Farrer often resorted to deceptive tactics to maintain their trust. In some instances, he would send a different watch—one that belonged to another client—to create the appearance that he was fulfilling his commitments. This tactic was similar to a Ponzi scheme, where new clients’ assets were used to placate existing clients, thereby hiding the true extent of the misappropriation.

Farrer’s fraudulent actions led to financial losses for over 40 victims, and the severity of the scheme resulted in serious criminal charges. His activities drew the attention of multiple federal agencies, including the FBI, IRS Criminal Investigation, and the Beverly Hills Police Department, whose investigations revealed the breadth of the deceit and the significant financial damage caused.

Skilled Defense Against Financial Fraud and Misconduct Charges

If you or someone you know is facing accusations related to fraud or financial misconduct, call our office at (310) 448-1529 or schedule a confidential consultation using our secure online system. With over 20 years of experience, Attorney Arash Hashemi understands the serious nature of fraud and financial misconduct allegations. We’ll take the time to understand your situation, answer your questions, and craft a defense strategy designed to protect your rights and your future.

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