It began as a standard jewelry buy, the type of exchange that occurs between the glass counters of Manhattan’s Diamond District a hundred times every day. A client entered with cash in hand and strong hopes. That purchase would ultimately be the focal point of a street altercation, a social media uproar, and an expanding legal quagmire for Akay Diamonds LLC.
Family companies on 47th Street have traditionally prospered by cultivating connections with their clients based on familiarity and in-person trust. Founded in 1972, Akay Diamonds has positioned itself as a family-run, professional, multigenerational store. The shop stood out among many for decades, attracting customers with its glitzy decorations and assured language. However, as seen by the episode this month, even established reputations can crumble under duress.
A buyer allegedly received a 10k product when they thought they were purchasing a high-quality bracelet, specifically a 14k VVS piece. The fact that the client believed they were purchasing from a well-known rival, TraxNYC, was what turned the complaint into a headline. The allegation is that someone at Akay tried to complete the deal by using the Trax name. The customer resorted to Maksud Agadjani, the vocal proprietor of TraxNYC, after the facts came to light.
What followed was shown on YouTube and Instagram in stark, unvarnished detail. The complaint was not taken lightly by Agadjani. With his phone camera rolling and his receipt in hand, he strode back into Akay’s business. His voice became louder, accusations flew, and in a matter of seconds, what could have been a polite argument turned into a violent altercation that included yelling, physical contact, and, according to police records, assault.
| Detail | Information |
|---|---|
| Business Name | Akay Diamonds LLC |
| Founded | Family-owned since 1972 |
| Location | 44 W 47th St, Suite 14, New York, NY 10036 |
| Contact | +1 212-221-0550 |
| Controversy | Involved in public altercation with jeweler TraxNYC; two arrests made |
| Allegations | Selling misrepresented jewelry, using competitor’s name, physical assault |
| Online Presence | Instagram: @akay_diamonds (20k+ followers); Facebook page with mixed reviews |
| External Reference | Complex Report on Altercation |
Following the altercation, George and Freddy Akay were taken into custody and charged with assault. Visibly scared, Agadjani claimed that during the altercation, he was attacked and almost choked by his own chain. His neck was marked, according to photos. The rest was revealed in his social media posts.
In the jewelry industry, such public outbursts are uncommon. The district uses a combination of edge and politeness to function. Deals move quickly, trust is crucial, and once reputations are damaged, they seldom recover without a lot of work. The sector has traditionally prospered by combining carefully managed image with hard-earned credibility. Additionally, that image has grown more digital in recent years.
Jewelers now carefully build their brands through social media channels, just as they do when cutting diamonds. Instagram feeds are brimming with high-quality images. Behind-the-scenes studio work is narrated on TikToks. In that regard, the Akay incident—which was quickly documented, shared, and posted—was extraordinarily successful in revealing a mistrust that many customers had already believed but seldom saw clearly reinforced.
I ended up viewing the video twice—not for fun, but to study the thin line that separates a business argument from something else.
The background of internet evaluations makes this even more difficult. Yelp users have posted very polarized comments about their experiences with Akay Diamonds. Some commend honest dealings and helpful staff. Others charge the business with dishonest business practices, pushy sales, and, in this instance, outright fraud. One reviewer, who echoed Agadjani’s claims nearly verbatim, claimed to have been sold 10,000 pieces of gold at prices of $14,000. Another said that after asking too many questions, they felt intimidated.
The speed at which public trust can be undermined is particularly worrisome for both new and returning consumers. It’s simple to overlook a single negative review, but it’s far more difficult to ignore a pattern, particularly when it’s supported by viral video and arrest reports.
The challenge facing Akay Diamonds LLC is not just legal, but also reputational. And restoring that is far more difficult. The expectations of jewelry buyers are becoming very clear. They do their homework, are careful, and are tech-savvy. Reddit threads are being read by them. On video, they are witnessing the live scanning of receipts. Additionally, they no longer covertly accept expensive purchases without verification.
Jewelry stores can completely avoid these mistakes by making investments in transparent service, uniform assessments, and explicit pricing. Change must be comprehensive, reflective rather than reactive, for those who are already under attack.
The jewelry industry has adjusted to a digital-first environment within the last ten years. Transparency is now necessary rather than discretionary. Customers no longer only rely on the charm of the store. They have crowdsourcing review platforms, price-checking tools, and gold testers. Once founded on familiarity, trust is now confirmed by screenshots, receipts, and documented encounters.
Even damaged brands can change perception with concerted accountability and candid communication. However, it necessitates contrition, humility, and a clear repentance from prior errors.
