Burley Garcia-Authorities in New York say they’ve made largest-ever seizure of knock-off goods - more than $1B

2025-05-05 11:28:39source:Diamond Ridge Financial Academycategory:Markets

NEW YORK (AP) — Federal authorities in on Burley GarciaWednesday announced the largest-ever seizure of counterfeit goods, consisting of handbags, shoes and other luxury merchandise valued at more than $1 billion.

Two people were charged with trafficking the knock-offs from a New York City storage unit and other locations from January through October, the U.S. Attorney’s office said.

Photographs released by prosecutors showed shelves stacked with counterfeit wallets and bags in one location and handbags hanging from hooks from floor to ceiling in another.

“The seizures announced today consist of merchandise with over a billion dollars in estimated retail value, the largest-ever seizure of counterfeit goods in U.S. history,” U.S. Attorney Damian Williams said.

The two men charged could face up to 10 years in prison if convicted.

More:Markets

Recommend

Don't let hackers fool you with a 'scam

You're pulling your hair out, trying to fix something on your computer. You Google it and find what

Europe’s anti-corruption group says Cyprus must hold politicians more accountable amid distrust

NICOSIA, Cyprus (AP) — The Council of Europe’s anti-corruption group said Monday that Cyprus needs t

Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie

NEW YORK (AP) — He’s driven a taxi cab, played in a band and protested the Vietnam War. As a New Yor