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.
Editors' Picks
Sponsored by
More on Crime
The Latest
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
