A St. Petersburg man was recently arrested for a scheme to defraud his employer.
Detectives assigned to the Economic Crimes Unit arrested the man for Scheme to Defraud after stealing several high-end watches from his employer.
Detectives began an investigation after a report of a theft by an employee of Gold & Diamond Source, located a 3800 Ulmerton Road. Detectives learned the employee, later identified as 32-year-old Michael Kelly, stole several high-end watches from the business between October 31, 2021, and May 3, 2025.
Detectives say Kelly entered fictitious information into the point-of-sale system, making the business believe a watch sale occurred. Kelly created false sales records indicating a customer traded in a watch and purchased another, however, Kelly would steal a watch from inventory and place it in his suit jacket. Kelly was seen on surveillance video entering fictitious trade-in transactions, with no customer present.
At this point in the investigation, detectives have confirmed that Kelly stole 36 high-end watches from the business. Gold & Diamond Source suffered a financial loss exceeding $650,000.00. On May 10, 2025, Kelly’s employment was terminated.
This month, Kelly was arrested and charged with Scheme to Defraud. He was transported to the Pinellas County Jail.
The Central Florida investigation continues, according to local law enforcement.
This is why you should always watch what you’re doing . I guess this just wasn’t his time ?