A major controversy has erupted in the New York Diamond District, sending shockwaves through one of the world’s most famous jewelry hubs. TraxNYC owner Maksud Agadjani has launched a public confrontation against neighboring jeweler Akay Diamonds, accusing the business of misrepresenting gold quality while falsely claiming an affiliation with his brand.

Allegations of Fraud and Brand Misuse

According to Agadjani, a customer searching for TraxNYC in the Diamond District was allegedly misled by employees at Akay Diamonds, who claimed they were affiliated with TraxNYC. Relying on that claim, the customer purchased what was sold as a 14-karat white gold bracelet at a premium price.

Independent testing later determined that the bracelet was in fact 10-karat gold, a significantly lower purity. The difference allegedly resulted in losses ranging from hundreds to thousands of dollars in gold value and, more broadly, damage to the reputation of 47th Street’s tightly knit jewelry trade.

Agadjani says the transaction was supported by a forged receipt labeling the item as “14KT White Gold,” masking the true material and reinforcing the alleged deception.

Evidence and Testing

The evidence presented publicly includes:

• A receipt issued by Akay Diamonds describing the bracelet as 14KT white gold

• Independent testing confirming the bracelet was only 10KT

• A clear mismatch between the paperwork, the price paid, and the actual gold content

Agadjani argues that this combination points to deliberate misrepresentation rather than a simple mistake.

Confrontation Caught on Camera

In a dramatic escalation, Agadjani personally entered Akay Diamonds with cameras rolling. In the recorded confrontation, he presented the disputed receipt to store employees, demanded accountability for allegedly using the TraxNYC name to sell lower-quality gold, and publicly labeled the operation a scam. The entire exchange was captured on video.

Fallout Goes Viral

As of January 2026, footage of the confrontation has gone viral across TikTok and Instagram, sparking widespread backlash against Akay Diamonds. Online reactions have been swift, with calls for boycotts and increased scrutiny of Diamond District practices. Potential lawsuits are reportedly being considered.

TraxNYC has since issued a public warning urging customers to avoid impostors and to verify that they are dealing directly with authorized TraxNYC locations.

A Question of Trust on 47th Street

The disputed bracelet was ultimately returned, but the incident has reignited a long-simmering concern in the Diamond District: trust. In an industry where reputation is everything, a forged receipt and false affiliation claims can cause lasting damage—not just to individual businesses, but to the district as a whole.

As the story continues to unfold, many are asking a troubling question: what would happen to the Diamond District if every questionable deal were exposed to the public eye?

These scammers spit in my face, and tried to kill me. I can’t let that slide pic.twitter.com/dYzlOApIwx

— TraxNYC (@TraxNYC) January 2, 2026