Recidivist Insider Trading Defendant Charged With Luxury Watch Scheme And Impersonating A Federal Officer
Thursday, October 1, 2026 - United States Attorney for the Southern District of New York, Jamie McDonald, and Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), James C. Barnacle, Jr., announced today that JOHN AFRIYIE has been charged with wire fraud, impersonating a federal officer, and aggravated identity theft. AFRIYIE was arrested today and presented before U.S. Magistrate Judge Valerie Figueredo. The case is assigned to U.S. District Judge Denise L. Cote.
“Alongside our law enforcement partners, this Office will continue working diligently to root out fraud, vindicate victims’ rights, and promote respect for the rule of law,” said U.S. Attorney Jamie McDonald. “As alleged in the indictment, John Afriyie took advantage of multiple victims by defrauding them of over $1 million on false promises to deliver luxury watches based on connections he never had. Afriyie’s conduct was even more brazen in that he impersonated his former probation officer to further his fraudulent goals, even after serving a sentence for insider trading in this District.”
“The charges imposed on this repeat offender reflect the severity of his alleged crimes,” said FBI Assistant Director in Charge James C. Barnacle, Jr. “Not only did Afriyie allegedly dupe his victims into trusting them with their money, in exchange for luxury watches, he allegedly bolstered his ruse by impersonating a federal officer. The FBI takes fraud and theft violations seriously and will continue to take swift action to bring these fraudsters to justice.”
According to the Indictment and public records:(1)
Between at least in or about February 2023 and in or about November 2024, AFRIYIE falsely represented to at least five victims that he could obtain highly sought-after, luxury brand watches at retail price through his purported connections in the fashion industry. Based on those false representations, the victims identified specific models of watches and sent money to AFRIYIE so that he could obtain these watches for them at retail price, despite such watches having long waitlists based on their exclusivity.
AFRIYIE, who was previously convicted of securities fraud and wire fraud for insider trading in the Southern District of New York, further falsely claimed to the victims that, as a result of his prior conviction, a probation officer in the Southern District of New York had to review his financial transactions and had raised issues with the manner in which the victims sent funds to AFRIYIE. Based on those false representations, the victims sent additional funds to AFRIYIE with the expectation that, once the probation officer and the federal judge overseeing his case approved the transactions, AFRIYIE would return the excess funds. AFRIYIE also impersonated the probation officer by falsifying an email from the probation officer and sending a screenshot of that email to a victim in furtherance of his fraudulent scheme to demand more money from that victim.
In total, AFRIYIE received at least $1.2 million from the victims and never provided any of the victims with the watches they were promised. Instead, AFRIYIE appears to have lost substantially all of the victims’ funds through his personal trading activity.
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AFRIYIE, 39, of New York, New York, is charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison; one count of impersonating a federal officer, which carries a maximum sentence of three years in prison; and one count of aggravated identity theft, which carries a mandatory sentence of two years in prison.
The mandatory and maximum potential sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Mr. McDonald praised the outstanding investigative work of the FBI.
This case is being handled by the Office’s General Crimes Unit. Assistant U.S. Attorney Samantha Fry is in charge of the prosecution.
The charges contained in the Indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
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As the introductory phrase signifies, the entirety of the text of the Indictment and the description of the Indictment set forth herein constitute only allegations, and every fact described therein should be treated as an allegation.
Contact
Nicholas Biase, Shelby Wratchford
(212) 637-2600
Source: U.S. Attorney's Office, Southern District of New York
