A former employee of the Gold & Diamond Source in Pinellas County has been arrested for stealing luxury watches worth more than $650,000 over a three-year period, according to the Pinellas County Sheriff’s Office.
Michael Anthony Kelly, 32, of St. Petersburg, is charged with a felony count of scheme to defraud. He was fired from the Clearwater-based jewelry store last month, authorities said.
The investigation began on May 15, after the business—located at 3800 Ulmerton Road and known for its local TV commercials—reported missing inventory. Detectives with the sheriff’s Economic Crimes Unit discovered that the thefts began in October 2021 and continued until May 2025.
According to investigators, Kelly used the store’s point-of-sale system to create fake transactions. He entered false information to make it appear as though a customer had traded in one watch and bought another. In reality, Kelly would take a watch from the store’s inventory and hide it in his suit jacket.
Surveillance footage captured Kelly conducting these fake trade-ins without any customers present, further confirming the fraud, the sheriff’s office said.Kelly was arrested on June 5 and remains in custody pending further legal proceedings.
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