BOSTON – A luxury jewelry company supervisor was taken down for his three-year-long scheme to steal and sell millions of dollars in precious metals.
In a plea deal, Benjamin Preacher, 54, of North Attleboro, Massachusetts, pleaded guilty to one count of interstate transportation of stolen goods and one count of engaging in unlawful monetary transactions. U.S. District Court Judge Angel Kelley scheduled sentencing for Sept. 18, 2024.
Preacher worked as a manufacturing supervisor at a Rhode Island facility operated by a company that sells luxury items, including jewelry made from gold, silver, and platinum. He used his position to steal precious metals from the company’s facility in Rhode Island and then sell the metals to various businesses in Massachusetts.
According to the Department of Justice, Preacher sold precious metals to a Canton-based metals dealer roughly one to two times per month – with sales to that dealer alone totaling more than $1 million. He also sold over $177,000 in stolen precious metals to a separate metals dealer in West Bridgewater between May 16, 2023, and Nov. 16, 2023.
On March 1, 2024, Preacher was caught on company security cameras stealing a piece of white gold valued at roughly $2,200. Precious metal in scrap form was located and seized during a search of Preacher’s home on March 14, 2024.
The charges carry 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 monetary gain or loss. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes.
Acting United States Attorney Joshua S. Levy and Harry Chavis, Jr., Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office, announced the plea deal. Assistant U.S. Attorney Kriss Basil of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: Official Source ↗
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