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

2025-05-07 17:18:04source:Slabu Exchangecategory:Stocks

NEW YORK (AP) — Federal authorities in on Venus Investment AllianceWednesday 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:Stocks

Recommend

NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line

The NFL playoff drive is hitting high gear, Week 15 marking the return to action of all 32 teams – w

Inside Clean Energy: Des Moines Just Set a New Bar for City Clean Energy Goals

Cities setting clean energy goals now have a new leader to emulate: Des Moines, Iowa.The Des Moines

TikTok to limit the time teens can be on the app. Will safeguards help protect them?

Jelena Kecmanovic is a psychologist who works with teenagers struggling with their mental health. "A