Crime

Former Tiffany & Co. Factory Supervisor Sentenced for Stealing Precious Metals

CrimeDec 11, 2024

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.

Stock image of a gavel
Boston—A former Tiffany & Co. factory supervisor accused of pocketing gold, platinum, and silver scrap from the facility will spend two months behind bars.

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. 

 Related stories will be right here … 

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

Phillips auction of The Vanderbilt Sapphire brooch
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond Withdrawn

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

Rebecca Rau Jewels Green Flame Necklace
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ Collection

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

Purvi Shah
Policies & IssuesNov 20, 2025
RJC Names New Executive Director

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

Recipients Collage 2025 - NJ (1872 x 1050 px) (1872 x 1052 px).png
Brought to you by
Impacting Tomorrow Today

How Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.

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.

Weekly QuizNov 20, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Julia Griffith
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of Education

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

Helena Bonham Carter in Larkspur & Hawk Once Upon a Time Campaign
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter Campaign

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

roseco-catalog.png
Brought to you by
Roseco Releases New Full-Line Catalog

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

Google reviews on a phone screen and a laptop
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.

Shaftel Diamonds logo and jeweler’s bench
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.

Midas chain mini studs
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style Guide

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

Jewelry from NYC Jewelry Week 2024
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See Events

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

Lugano Diamonds Greenwich Connecticut store
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for Buyer

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

Kathleen Ryan Dreamhouse Bad Fruit sculpture
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LA

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

Rough diamonds from the Gahcho Kué mine in Canada
SourcingNov 18, 2025
Another Diamond Company CEO Steps Down

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

Jeffrey Bennett
GradingNov 17, 2025
IGI Announces New President of North America

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

Robbins Brothers Pasadena store exterior
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena Flagship

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

Rolex Perpetual 1908 watch with 18-karat yellow gold bracelet
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.

Napoleon Bonaparte diamond brooch
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.

Buccellati Étoilée earrings
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.

Silvia Furmanovich x Mellerio Butterflies in Flight Jewelry Box
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry Box

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

JCK Las Vegas trade show
Events & AwardsNov 14, 2025
JCK Names New Event Director

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

Adler’s Jewelry storefronts New Orleans
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to Close

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

Green Lake Jewelry Works Seattle interior
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle Studio

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

Leon V. Der Calousdian
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85

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

Mellon Blue Diamond Christies
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade Ago

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 Companion Oyster
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’s

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

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy