Ex-Gold & Diamond Source employee accused of stealing $650K worth of high-end watches from store

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Ex-Gold & Diamond Source employee accused of stealing $650K worth of high-end watches from store

The Brief

An ex-Gold & Diamond Source employee was arrested for stealing more than $650,000 worth of high-end watches from the store.

He’s accused of stealing 36 high-end watches from the Gold & Diamond Source, which is located off of Ulmerton Road in Clearwater.

He was arrested nearly a month after he was fired from the Gold & Diamond Source.

CLEARWATER, Fla. – An ex-Gold & Diamond Source employee was

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for stealing more than $650,000 worth of high-end watches from the store.

The

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Sheriff’s Office said Michael Kelly, 32, is now facing a scheme to defraud charge. He’s accused of stealing 36 high-end watches from the Gold & Diamond Source, which is located off of Ulmerton Road in Clearwater.

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Detectives said they began investigating Kelly after receiving a report of a theft by the now former employee. They learned that Kelly stole the high-end watches between October 31, 2021, and May 3, 2025, according to PCSO.

Booking photo of Michael Kelly. Courtesy: Pinellas County Jail.

Investigators said Kelly entered fake information into the company’s point-of-***** system, making the business believe a watch was sold. Deputies said the suspect created false sales records that indicated a customer traded in a watch and purchased another.

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In reality, though, Kelly would steal a watch from the inventory and place it in his suit jacket, according to authorities. The former employee was seen on surveillance video entering fake trade-in transactions with no customer present, PCSO said.

Kelly was fired from his job at Gold & Diamond Source on May 10, after causing the company more than $650,000 in financial loss. He was arrested nearly a month later on Thursday and was taken to the Pinellas County Jail.

The Source

The information in this story was released by the Pinellas County Sheriff’s Office.

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