Anthony Farrer lived a flashy life, just like the high-end watches he sold. Beverly Hills 'Timepiece Gentleman' scammed customers of $3 million. His used watch business, The Timepiece Gentleman, had a shop on Rodeo Drive, which is famous in the city. Outside of his fancy Santa Monica rental, he had a red Lamborghini and two Ducati motorbikes. There were many times he went to Las Vegas to gamble and lost tens of thousands of dollars.
His clients thought that business was going great. Farrer showed off watches worth up to $430,000 on social media, and his 300,000 Instagram and YouTube fans were amazed.
In a shocking turn of events, the Federal Bureau of Investigation (FBI) has arrested famous businessman Anthony Farrer, who owns "Timepiece Gentleman." They say he was involved in a scam to sell fake watches. Farrer, who is 35 years old and lives in Santa Monica, California, is accused of stealing at least $3 million from customers while running a high-end watch shop in Beverly Hills from November 2022 to August 2023.
Authorities say that Farrer got people to buy from him by saying he would sell their expensive watches on consignment and guaranteeing them a minimum 5 percent profit. But a lawsuit filed with the U.S. District Court for the Central District of California shows that Farrer lied to at least 20 people who trusted him.
Investigators say that Farrer broke his promises by using the moneyhe made from selling Rolex and other high-end watches to pay for an expensive lifestyle. He liked to do expensive things like drive a red Lamborghini, ride a Ducati motorbike, and go to Las Vegas a lot to gamble.
The U.S. Attorney's Officefor the Central District of California said that Farrer is being charged with wire fraud, a felony that can get you up to 20 years in federal jail. It was Thursday evening, and Farrer's lawyer still hadn't said anything.
The complaint describes Farrer's work style and says that he went to Los Angeles in February 2022 to open a store called the Timepiece Gentleman. Customers were tricked into sending money by saying they were buying watches, but Farrer reportedly didn't send them the watches or sent them completely different ones. At the same time, he allegedly stole the money from legal sales.
Authorities say Farrer tricked people into thinking they were safe by starting small deals before asking for larger amounts of money. At least twenty of the victims went to the police to complain, saying they hadn't gotten either the money from selling their watches or the watches they were supposed to buy from Farrer.
In a disturbing YouTube video that came out in August, Farrer claimed that he had racked up millions of dollars in debt while struggling with gambling, drug, and alcohol addiction. He admitted that he lied to his workers, clients, friends, and peers, lived beyond his means, and spent other people's money.
The lawsuit says that Farrer kept advertising watches for sale even after these facts came to light until at least October 6. In August, detectives from the Beverly Hills Police Department went to his Rodeo Drive business and found it empty, with the doors locked, the lights off, and the video equipment broken. After that, Farrer was arrested on Tuesday in the Venice neighborhood of Los Angeles. His hearing is set for December 14.
Federal prosecutors say a businessman in Beverly Hills who ran a luxury watch consignment shop and was known as the "Timepiece Gentleman" scammed customers out of about $3 million. He was charged with wire fraud this week.
Anthony Farrer was arrested at a storage facility in Venice on Tuesday, one day after he was charged in a federal criminal complaint. The complaint says he scammed people in a Ponzi-like scheme from late 2022 to this summer, according to a newsrelease from the U.S. Attorney's Office for the Central District of California.
After starting his business, "Gentlemen Timepieces," in Texas in 2017, Farrer opened a second site on Rodeo Drive in Beverly Hills in 2022.