CLEARWATER, Fla. — A former employee of Gold & Diamond Source has been arrested for stealing over $650,000 worth of luxury watches from the Clearwater store.
Michael Kelly, 32, faces charges of scheme to defraud after allegedly stealing 36 high-end watches from the shop located on Ulmerton Road. The Pinellas County Sheriff’s Office (PCSO) began investigating Kelly following a theft report involving the ex-employee.
According to PCSO, Kelly stole the watches between October 31, 2021, and May 3, 2025. He reportedly used the store’s point-of-sale system to enter false sales information. These fake records made the company believe a customer traded in a watch and bought another. In reality, Kelly took watches from the inventory and hid them in his suit jacket.
Surveillance footage showed Kelly creating fake trade-in transactions without any customers present, the sheriff’s office said.
Kelly was fired on May 10 after the theft was discovered. He was arrested nearly a month later and is now held at the Pinellas County Jail.
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