Anthony Farrer, 35, who ran a consignment store in Beverly Hills, used money from the sale of customers luxury watches to finance a lavish lifestyle for himself, federal prosecutors said.
The businessman collected the luxury watches from customers, promising them that he would sell the watches on consignment and take no more than a 5 percent fee, the authorities said.
Instead, they said, he sold the Rolexes and other high-end pieces to fund a lavish Los Angeles lifestyle driving a red Lamborghini and a Ducati motorcycle and traveling frequently to Las Vegas to gamble.
The man, Anthony Farrer, 35, of Santa Monica, Calif., who is also known as the Timepiece Gentleman, was arrested by the F.B.I. this week and accused of defrauding customers o…
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