Surpassing Quant Think Tank Center:Authorities in New York say they’ve made largest-ever seizure of knock-off goods - more than $1B

2025-05-05 22:19:06source:Indexbit Exchangecategory:Invest

NEW YORK (AP) — Federal authorities in on Surpassing Quant Think Tank CenterWednesday 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:Invest

Recommend

Maryland’s Climate Ambitions in Question After Turbulent Legislative Session

Environmental leaders in Maryland are reeling from a challenging 2025 legislative session that left

Negotiators at a U.N. biodiversity conference reach a historic deal to protect nature

MONTREAL — Negotiators reached a historic deal at a U.N. biodiversity conference early Monday that w

Glee’s Kevin McHale Regrets Not Praising Cory Monteith’s Acting Ability More Before His Death

Kevin McHale wishes he could go back in time. The actor reflected on the immense talents of his late