Is Anthony Farrer Arrested? Why was Anthony Farrer Arrested? Who is Anthony Farrer?
by Alaguvelan M
Updated Nov 09, 2023
Is Anthony Farrer Arrested?
Yes, Anthony Farrer, also known as "The Timepiece Gentleman," has been arrested by the FBI on charges of defrauding customers through his luxury watch consignment business, "Gentlemen Timepieces."
Farrer allegedly kept proceeds from the sale of consigned watches for himself, and victims reported losses totaling around $3 million. The investigation is ongoing, and Farrer is scheduled for arraignment on December 14.
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Who is Anthony Farrer?
Anthony Farrer is the founder and CEO of Timepiece Gentleman, a luxury watch shop. He has built a reputation for providing a bespoke level of attention to clients and curating a selection of the very best watches.
Anthony Farrer is known for his passion for watches, which began when he was in high school. Initially, he started buying and selling watches as a way to afford his passion. However, he recognized a lack of market information and transparency between dealers and customers, which led him to start Timepiece Gentleman.
Why was Anthony Farrer Arrested?
Anthony Farrer, known as "The Timepiece Gentleman" and founder of a luxury watch consignment store in Beverly Hills, was arrested by the FBI on charges of defrauding customers.
The 35-year-old allegedly operated a Ponzi-type scheme, promising to sell clients' luxury watches on consignment but keeping the earnings for himself. He further deceived customers by having them wire money for specific watches and sending them different ones.
The arrest follows an estimated $3 million in losses reported by victims who never received their watches or payment. Farrer's arrest is based on a federal complaint filed with wire fraud charges, carrying a maximum sentence of 20 years in federal prison.
The scheme involved using customers' watches to settle debts without authorization and engaging in smaller successful transactions to lull victims into a false sense of security. The investigation is ongoing, with Farrer set for arraignment on December 14 and a detention hearing on Thursday.
Is Anthony Farrer Arrested - FAQs
Farrer was arrested by the FBI on charges of defrauding customers through his luxury watch consignment business.
Farrer is accused of keeping proceeds from the sale of consigned watches for himself, resulting in reported losses of around $3 million.
Farrer operated a business known as "Gentlemen Timepieces."
Farrer was arrested without incident at a storage facility in Venice by FBI agents.
The investigation is ongoing, with authorities working to identify additional victims.