In recent news, it was reported that Anthony Farrer has been arrested and charged for allegedly stealing $5 million dollars. You are required to read the article for more details and information about the same. Follow us around for all the insights and fresh updates at the PKB News.
Anthony Farrer Scandal Explained
Currently, the Timepiece Gentleman, aka Anthony Farrer’s scandal is creating a major buzz online as he released a Reddit post named My Fault and later a video admitting that $5 million USD debt using Watch Ponzi Scheme. Anthony Farrer, 35 is the founder and the CEO of the Timepiece Gentleman which is a luxury watch retailer. However, he has customers all around the globe contributing to his prison to the penthouse journey. Recently, he seems to be taking all the media and new headlines for his Watch Ponzi Scheme. Anthony Farrer’s scandal commenced back in 2021 when he suddenly disappeared with investors. Later, he returned and continued his luxury watch trade business. Scroll down to the next section for more.
As mentioned earlier, Anthony’s name came into the Watch Ponzi Scheme of stealing over $5 million dollars. The incognito mode of Anthony Farrer and his company seeingly looked like a publicity stunt that helped him gain more followers than ever. Prior to a few weeks, he made a video claiming that he lost the Richard Mille watch and said it was stolen when he was drunk at a club. In the video, later, he mentioned that the watch resurfaced back on the market and his clients got offers for the very same watch. Meanwhile, after some time, he revealed that his YouTube video was fake. Therefore, netizens are anticipating the story as a way out of what could probably be an insurance fraud scheme.
Furthermore, this is not the first time that a gentleman owner said that he got stolen. Earlier, he posted that his mates got robbed at gunpoint in LA and lost almost a dozen luxury watches that cost him more than a million dollars. Reportedly, this must be and could be part of his Watch Ponzi scheme everyone is talking about. Therefore, this scheme is a type of investment fraud where dealers like Anthony Farrer promise to invest clients’ money in watches and generate high-value returns with no or little risks. However, instead of investing the money, the fraudsters pay their previous clients who invested in them and keep some amount left for themselves. Due to that, the downfall or collapse caused this scheme there are no new investors. Besides that, during his teens, he got an alcohol addict and found himself behind bars in no time, and in later years he served 16 months in prison again.
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Categories: Trends
Source: HIS Education