Philadelphia Jeweler Convicted for $750,000 For Trafficking Counterfeit Goods And Financial Fraud Offenses

Philadelphia Jeweler Convicted for $750,000 For Trafficking Counterfeit Goods And Financial Fraud Offenses

A well-known Philadelphia jeweler who has iced out big names like Floyd Mayweather and Meek Mill is facing prison time for selling fake Rolex watches.

Dimitre Hadjiev, 41, has been convicted of trafficking counterfeit goods and financial fraud offenses related to selling counterfeit luxury wristwatches, WatchPro reports. The charges come after Hadjiev’s property was raided in 2019, and the IRS and FBI investigated his business practices.

The probe found that Hadjiev knowingly bought and sold counterfeit Rolex watches and customized Rolex watches with counterfeit Rolex parts from a separate jewelry and watch trading store. Hadjiev sold the fake goods under Dimitres Jewelry and Watches and Ice Fire Inc.

“A jury of Mr. Hadjiev’s peers confirmed what the government first alleged during the indictment: that Mr. Hadjiev trafficked counterfeit goods, laundered the proceeds, and structured deposits in an effort to avoid currency reporting requirements,” Yury Kruty, special agent in charge of IRS Criminal Investigations said.

“The Special Agents of IRS-CI and our law enforcement partners will continue to investigate and bring to justice criminals like Mr. Hadjiev who partake in schemes like this out of greed.”

Bank records show Hadjiev committed bank fraud by manufacturing deposits from his store sales to avoid activating his banks’ reporting requirements. He also failed to make required reports for cash sales over $10,000.

In total, Hadjiev is accused of committing around $750,000 in fraud.

“The defendant trafficked in counterfeit merchandise and structured his deposits to conceal the cash flowing into his jewelry business,” U.S. Attorney Jacqueline C. Romero said.

“This Office and its law enforcement partners are committed to protecting consumers from unknowingly purchasing phony merchandise and to holding defendants accountable for their greed.”

Hadjiev often boasted of his celebrity clientele by posting photos with big-name stars like Philadelphia native Meek Mill, boxing champion Floyd Mayweather, one-time Philadelphia 76ers player Andre Iguodala, and the late Playboy mogul Hugh Hefner, Daily Voice reports.

In September 2019, Hadjiev was first charged with several crimes stemming from his fake Rolex scheme, Patch reports. Evidence presented at trial showed that Hadjiev had been operating his business since at least 2014 on the 300 block of South Street in Philadelphia.