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
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
