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

Stock image of a polished diamonds being held by tweezers
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss

The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Lindsey Scoggins Studio convertible flower earrings
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award Winners

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

Matthew Tratner, new president of Continental Buying Group
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Stock image of rough diamonds from the Kimberley mine
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

Weekly QuizJul 31, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Pomellato Mini London blue topaz and diamond bracelet
FinancialsJul 30, 2025
Kering's Jewelry Brands Resilient As H1 Sales Slide 16%

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Zadok Rolex Austin
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in Austin

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Crowd of people in a shopping mall
SurveysJul 30, 2025
Consumer Confidence Ticks Up in July

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

Making a Killing in Diamonds by Rob Bates
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Tacori bezel-set diamond bands
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LA

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.

Mighty Fierce Audacious Necklace, Sandy Rubin Aziza Necklace, Koulianos Designs Illuminations Shield Pendant
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New Designers

The first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.

Auctim emerald auction
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough Emeralds

The online auction house’s September sale will feature rough Brazilian emeralds of various qualities.

AGS Board President for 2025-2026 Alexis Padis
MajorsJul 29, 2025
Alexis Padis Re-Elected AGS Board President

She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.

Stock image of shipping containers
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs

Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.

Nanis Ipanema Collection Campaign
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’

A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.

Kevin O’ Leary and George Mayer of The 1916 Company
MajorsJul 28, 2025
The 1916 Company Partners with ‘Shark Tank’ Star’s Watch Insurance Platform

The retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.

Sissy’s new Little Rock store
IndependentsJul 28, 2025
Sissy’s Log Cabin to Open Flagship in Arkansas

The jeweler’s largest store yet is set to open in Little Rock next fall.

Jemma Wynne Forme Toggle Necklace
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ Necklace

Anne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”

September Hong Kong jewelry show
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong Show

Jewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.

Bulgari Celestial Mosaic spinel necklace
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’

Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.

Mark and Candy Udell
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime Achievement

Mark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.

De Beers marine mining vessel the SS Nujoma
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2

While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.

Francesca Villa Fantasia Collection The Crab Pendant, The Mermaid Pendant, Keep Dancing Seahorse Pendant, Keep Dancing Ladybug Pendant, Secret Dreams Pendant, The Puffer Fish Takes Flight Pendant
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio Characters

The “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.

Breitling’s special Eagles Super Bowl watch on gold bracelet
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles

The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.

Silvia Furmanovich Kasmir Collection Carnelian Bracelet and Sketch
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern India

The “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.

Bench jeweler holding a bracelet and a tool
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHo

Creative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.

×

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