New York City — A dispute between jewelers in Manhattan’s famed Diamond District escalated into a violent confrontation on Friday, drawing police response and widespread attention after footage of the incident circulated online.
The altercation occurred on West 47th Street, a corridor known for its dense concentration of jewelry businesses, after one jeweler accused competitors of misleading a customer over the sale of a bracelet valued at approximately $22,000.
According to statements provided to authorities and media outlets, Maksud Agadjani, owner of TraxNYC, claimed he refunded a customer who alleged they had been deceived about the authenticity and value of the bracelet. Agadjani said he then confronted the sellers, identified as brothers George and Freddy Akay, owners of Akay Diamonds, seeking reimbursement.
Video footage shows a tense verbal exchange inside a jewelry store, during which Agadjani is seen demanding repayment while holding the disputed item. The situation appeared to intensify as voices were raised and bystanders gathered.
Moments later, the confrontation turned physical. Witnesses reported pushing, punching, and choking during the scuffle, which involved multiple individuals. Agadjani was transported to Bellevue Hospital for treatment of injuries sustained during the incident.
New York City police confirmed that George and Freddy Akay were arrested and charged in connection with the assault. A third individual was reportedly issued a summons. Authorities stated that the investigation remains ongoing and did not immediately confirm whether fraud-related charges would be pursued.
In a statement following the incident, Agadjani described the confrontation as avoidable, saying the dispute could have been resolved without violence. The Akay brothers have not publicly commented on the allegations.
The incident has sparked renewed discussion about consumer trust, competition, and conflict within the Diamond District, where high-value transactions often rely heavily on reputation and credibility. Industry observers note that while disputes are not uncommon, public altercations of this nature are rare and damaging to the district’s image.
As legal proceedings move forward, the case highlights the potential consequences when business disagreements escalate beyond negotiation into violence, even in one of New York City’s most iconic commercial hubs.