Former Tiffany & Co. Factory Supervisor Sentenced for Stealing Precious Metals
A federal judge gave Benjamin Preacher 59 days in jail, plus 10 months of home confinement and two years of supervised release.

The U.S. Attorney’s Office in Boston announced Dec. 4 that 54-year-old Benjamin Preacher of North Attleboro, Massachusetts, has been sentenced to 59 days in prison by U.S. District Court Judge Angel Kelley.
Prosecutors had asked for a sentence of 30 months.
Preacher’s attorney, Michael DiStefano, said in email to National Jeweler that the sentence is a “full” and “fair” reflection of all the factors considered in criminal sentencing.
“Mr. Preacher’s personal history is exceptional. A proud military veteran, he has experienced the depths of homelessness and the gratification of eventually owning a home, which he has opened to many people in need of support and a place to stay,” DiStefano said.
“Additionally, the sentence accounts for the non-violent nature of the offense, the family and personal pressures he experienced at the time of the offense, and his lack of any prior interaction with the criminal justice system … Mr. Preacher is taking full responsibility for his conduct and looks forward to continuing to support his family.”
Preacher was arrested in March and pleaded guilty in June to one count of interstate transportation of stolen goods and one count of engaging in unlawful monetary transactions after being accused of stealing more than $1.7 million worth of precious metals scrap over a period of three years.
According to the U.S. Attorney’s Office, from 2018 until early 2024, Preacher worked as a manufacturing supervisor for a “Rhode Island facility operated by a company that sells luxury items, including jewelry made from gold, silver and platinum.”
A LinkedIn profile for Benjamin Preacher in North Attleboro lists him as a lean manufacturing supervisor at Tiffany & Co.’s facility in Cumberland, Rhode Island.
This is the factory that is home to the company’s holloware workshop that crafts, among many other things, the Vince Lombardi Trophy.
According to the affidavit filed at the time of Preacher’s arrest in March, on March 1, about 30 minutes into his shift, workplace security cameras caught Preacher palming a one-inch piece of white gold flat stock worth about $2,200.
When he left the factory that day, cameras recorded him placing his security badge holder on top of the exit X-ray machine, walking through, and then reaching back to grab his badge holder, where he presumably had stashed the gold.
According to the affidavit, when his employer confronted him about the theft two weeks later, Preacher wrote and signed a statement that he had stolen the white gold flat stock, and had been stealing precious metals from the company and selling them to a gold buyer since 2018.
He also admitted his theft to the IRS, and law enforcement officials seized a bag of precious metal scraps from his home.
Between about March 2020 and March 2023, Preacher took precious metal scraps to a dealer in Canton, Massachusetts, once or twice a month and made more than $1 million.
He also sold gold, platinum, and silver to a different dealer in West Bridgewater, Massachusetts, between May and November 2023, with those sales totaling $177,062, according to the affidavit.
In addition to two months in jail, Judge Kelley sentenced Preacher to 10 months of home confinement, 200 hours of community service, and two years of supervised release.
He also was ordered to forfeit approximately $1.3 million.
The Latest

A 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.

Rau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.

Former De Beers sustainability leader Purvi Shah will take over the role in February 2026.

How Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.


She previously taught at Gem-A and is the founder of The Gem Academy.

The British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.

Roseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.

Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.

Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.

The jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.

With more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.

The Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.

The artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.

Mark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.

Tiffany & Co. veteran Jeffrey Bennett has stepped into the role.

The showroom is located in a historic 1920s building in the Playhouse District.

The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.

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.

Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.

Furmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.

Jennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.

Adler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.

Founder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.

The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.

A buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.

Mercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.






















