PHILADELPHIA – A Pennsylvania jeweler has been convicted of charges related to the sale of counterfeit Rolex watches.
Dimitre Hadjiev, 41, of Upper Darby, PA, was convicted at trial of charges including trafficking in counterfeit goods and financial fraud offenses, according to a press release from the U.S. Attorney’s Office for the Eastern District of Pennsylvania. Hadjiev operated a jewelry store on the 300 block of South Street in Philadelphia.
An investigation by the IRS and FBI showed that Hadjiev was knowingly buying and selling counterfeit Rolex watches and customizing Rolex watches with counterfeit Rolex parts, according to the release.
Authorities said that Hadjiev structured bank deposits from his store sales to avoid activating his banks’ reporting requirements and that he failed to make required reports for cash sales of more than $10,000.
“The defendant trafficked in counterfeit merchandise and structured his deposits to conceal the cash flowing into his jewelry business,” said U.S. Attorney Jacqueline Romero. “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.”
In total, amount involved in the scheme was over $750,000, according to the release.
“Dimitre Hadjiev’s store wasn’t a legitimate business – it was a front for fraud,” said Jacqueline Maguire, special agent in charge of the FBI’s Philadelphia Division. “The FBI and our partners are working hard to crack down on crooked businesses of all stripes, whether they’re cheating the public, the government, or, as in this case, both.”