CrimeFeb 06, 2024
Police Search for 2 Suspects in NJ Armed RobberyCrimeMar 19, 2024
Jewelry Factory Supervisor Arrested for Allegedly Stealing Precious Metals
The man was charged with money laundering in connection with the theft of gold, silver, and platinum over the course of three years.
A manufacturing supervisor for a luxury jewelry company was arrested last week and charged with money laundering after allegedly stealing gold, silver, and platinum from the company.
Boston—A manufacturing supervisor for an unnamed luxury jewelry company was arrested last week for allegedly stealing precious metals from the company’s factory in Rhode Island.
Benjamin Preacher, 54, of North Attleboro, Massachusetts, was charged with money laundering in connection with the theft of gold, silver, and platinum from the company over a period of more than three years, according to a March 15 release from the U.S. Attorney’s Office, District of Massachusetts.
He was charged by criminal complaint with one count of engaging in unlawful monetary transactions and was released on conditions following an appearance in federal court in Boston that same day.
Preacher worked as a full-time employee in a supervisory position at the company’s Rhode Island manufacturing facility since 2018.
Though court documents never name the jewelry company, a LinkedIn profile for a man named Benjamin Preacher of North Attleboro lists him as a lean manufacturing supervisor for Tiffany & Co. in Cumberland, Rhode Island.
Tiffany & Co. did not respond when asked if Preacher worked for the company.
Related stories will be right here …
Benjamin Preacher, 54, of North Attleboro, Massachusetts, was charged with money laundering in connection with the theft of gold, silver, and platinum from the company over a period of more than three years, according to a March 15 release from the U.S. Attorney’s Office, District of Massachusetts.
He was charged by criminal complaint with one count of engaging in unlawful monetary transactions and was released on conditions following an appearance in federal court in Boston that same day.
Preacher worked as a full-time employee in a supervisory position at the company’s Rhode Island manufacturing facility since 2018.
Though court documents never name the jewelry company, a LinkedIn profile for a man named Benjamin Preacher of North Attleboro lists him as a lean manufacturing supervisor for Tiffany & Co. in Cumberland, Rhode Island.
Tiffany & Co. did not respond when asked if Preacher worked for the company.
Court documents allege that Preacher used his position to steal gold, silver, and platinum from the facility and then sold the metals to various businesses in Massachusetts.
From around March 2020 to March 2023, he allegedly sold precious metals to a Canton, Massachusetts-based metals dealer about one to two times per month, as per the release, with sales to that dealer totaling more than $1 million.
Preacher’s sales of stolen metals allegedly included $50,521 in 18-karat gold in March 2020; $21,821 in 18-karat gold, platinum scrap and sterling silver in April 2021; and $30,939 in platinum in January 2022.
It is also alleged that he sold more than $177,000 in stolen precious metals to a separate metals dealer in West Bridgewater, Massachusetts, between May 16 and Nov. 16 of last year.
These alleged sales included gold sheets used by Preacher’s employer in a particular machine. He allegedly stole some of the sheets and sold them, along with other gold scrap, for nearly $21,000.
The most recent incident was documented on March 1, according to court papers.
Preacher was allegedly seen on company security cameras stealing a piece of white gold flat stock, measuring approximately an inch in diameter and approximately as thick as a quarter, valued at roughly $2,200.
During a search of his home on March 14, precious metal scraps were found.
The charge of unlawful monetary transactions could lead to a sentence of up to 10 years in prison, three years of supervised release and a fine of up to $250,000 or twice the amount of the laundered funds.
Assistant U.S. Attorney Kriss Basil of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.
More on Crime
The Latest
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
