Dimitre Hadjiev, 41, owner of Philadelphia jewelry store Ice Fire, has been convicted of trafficking in counterfeit watches and failing to file proper paperwork related to the sale of those watches, according to a statement from the U.S. attorney from the Eastern District of Pennsylvania.
Hadjiev was indicted in September 2019 for allegedly buying and selling counterfeit Rolexes and customizing genuine Rolexes with counterfeit parts. The government also claimed that Hadjiev “structured” deposits to avoid fulfilling reporting requirements for cash transactions.
The Internal Revenue Service requires businesses file a Form 8300 for cash transactions over $10,000 within 15 days of that payment. The IRS guidelines for filing the forms can be seen here.
Among the government’s allegations is that, after Hadjiev received $29,000 in cash for a transaction, he made two deposits: one for $9,900, the other for $7,250. Both were under the $10,000 threshold and were viewed by the government as an attempt to evade the reporting requirement. The total amount of money involved tops $750,000, according to the government statement.
The jury found Hadjiev guilty on four counts and not guilty on 15 others. Following his conviction, Hadjiev has been ordered to “cease all operations of business as a jeweler.”
According to the Delaware Daily Voice, Hadjiev’s celebrity clientele included boxer Floyd Mayweather and Playboy founder Hugh Hefner.
“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,” said Yury Kruty, special agent in charge of IRS Criminal Investigations, in the government statement. “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.”
Hadjiev’s attorney did not return a request for comment by the time of publication.
Photo: Getty Images
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