Beverly Hills Watch Dealer Arrested for Alleged $3 Million Scam

Anthony Farrer owned a luxury watch consignment business.

Anthony Farrer, known for his high-end watch consignment business in Beverly Hills, was recently arrested by the FBI for allegedly scamming customers out of $3 million. The 35-year-old, who flaunted a luxurious lifestyle complete with a red Lamborghini and frequent Las Vegas trips, is facing charges of wire fraud in what is described as a “luxury watch Ponzi-type scheme.”

Farrer’s business, The Timepiece Gentleman, operated on a 5% commission from watch sales, attracting clients with an array of expensive watches showcased on social media. However, according to a federal criminal complaint, the success was a facade. Farrer is accused of selling customers’ luxury watches and then pocketing the proceeds instead of paying the owners. This scheme reportedly took place from late 2022 to the summer of 2023.

Multiple victims reported to law enforcement that they either sent funds to Farrer for watch purchases or consigned watches for sale but never received payment or their watches back. The estimated victim losses currently total approximately $3 million. Farrer’s attorney, Erica Choi, has not responded to requests for comment on the matter.

Farrer, who initially launched his business in Dallas before moving to Los Angeles in 2022, allegedly began defrauding customers shortly after relocating. According to court documents, he would take luxury watches from individuals to sell on consignment and then keep the sale proceeds. This led to numerous complaints on Reddit and YouTube from disgruntled customers.

Investigations revealed Farrer’s financial struggles masked by his extravagant lifestyle. His Beverly Hills store was found abandoned, and he was arrested while traveling across various states. Evidence suggests that Farrer used the stolen funds to sustain his lavish living, including buying watches he never delivered to clients and using others’ watches as collateral for personal loans.

In a shocking turn, Farrer posted a confessional video online admitting to living a “fake” lifestyle and being millions in debt. He acknowledged his gambling problem and bad decisions that led to owing customers about $5 million. This confession followed his previous prison sentences for DWI and evading arrest in Texas.

Farrer is currently held without bail and awaits arraignment, with a potential 20-year federal prison sentence if found guilty. The investigation is ongoing, as authorities interview more clients to ascertain the full extent of the alleged fraud.

CrimeDoor
Author: CrimeDoor

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