St. Petersburg Man Arrested for Stealing $650,000 Worth of Watches

Luxury watches displayed at Gold & Diamond Source.

News Summary

A 32-year-old St. Petersburg man, an employee at Gold & Diamond Source, was arrested for allegedly stealing high-end watches valued at $650,000. After multiple reports and an investigation by the Pinellas County Sheriff’s Office, it was found that the suspect manipulated sales records and concealed stolen items in his jacket. He has been charged with scheme to defraud and could face serious legal consequences.

St. Petersburg Man Arrested for Stealing $650,000 Worth of Watches

St. Petersburg, FL – A 32-year-old man has been arrested for his involvement in the theft of high-end watches valued at approximately $650,000 from the Gold & Diamond Source located at 3800 Ulmerton Road in Largo, FL. Michael Kelly, an employee of the jewelry store, faces charges of scheme to defraud following a detailed investigation by the Pinellas County Sheriff’s Office (PCSO).

The investigation into Kelly’s activities began on May 15, 2023, after officials received reports of stolen watches from the well-known business. Detectives found that the thefts occurred over an extended period, specifically between October 31, 2021, and May 3, 2023. During this time, Kelly allegedly used his position to manipulate the store’s point-of-sale system. He entered false information that created the impression that watches had been sold, when in fact, they had not.

Further investigation revealed that Kelly had fabricated sales records to suggest that customers were trading in watches, even in the absence of any customers. Instead of conducting legitimate transactions, Kelly was stealing upscale watches and concealing them in his suit jacket. Surveillance video footage obtained during the investigation confirmed that he was entering these fictitious trade-in transactions.

In total, Kelly is said to have stolen 36 watches from Gold & Diamond Source before he was fired from his job on May 10, 2023. Following his termination, the investigators continued to gather evidence, leading to Kelly’s arrest on June 5, 2023, by detectives from the PCSO.

Investigation Details

The PCSO launched its investigation after customer complaints and store audits indicated discrepancies in sales documentation. Detectives quickly worked to determine the extent of the theft, uncovering Kelly’s method of fabricating sales and misusing his access to the store’s systems. The use of surveillance cameras played a pivotal role in confirming his actions and securing the evidence needed for legal action.

Legal Consequences

Kelly now faces serious legal repercussions. Being charged with scheme to defraud signifies potential penalties that could include significant fines and a lengthy prison sentence if convicted. The nature of the theft, involving high-value items, adds weight to the charges against him and emphasizes the calculated manner of the crime.

Background of the Gold & Diamond Source

Gold & Diamond Source has been a reputable establishment within the region, known for its collection of luxury jewelry and watches. With a long-standing presence in the community, the business has built a reputation for quality and integrity. The recent incident has raised concerns over employee trust and security within retail environments, prompting other businesses to reevaluate their internal monitoring systems and employee practices.

The case against Kelly serves as a stark reminder of the potential for abuse in positions of trust. The swift actions by the PCSO demonstrate a commitment to addressing theft and ensuring that justice is served. As the investigation unfolds, further details may emerge regarding the extent of the thefts and any additional charges that may be brought against Kelly.

As this story develops, authorities encourage other businesses to remain vigilant. Retailers are advised to implement stringent inventory controls and employee monitoring to mitigate risks associated with internal theft. Community members are also reminded of the importance of reporting suspicious activities to prevent future incidents.