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

2025-05-07 06:09:15source:Cassian Grantcategory:Invest

NEW YORK (AP) — Federal authorities in on TradeEdge ExchangeWednesday 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

Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon

There are spoilers ahead. You might want to solve today's puzzle before reading further! TriathlonCo

Charlize Theron's Daughters Jackson and August Look So Tall in New Family Photo

Soon, Charlize Theron will have some young adults on her hands.After all, the Oscar winner's 11-year

‘She should be alive today’ — Harris spotlights woman’s death to blast abortion bans and Trump

ATLANTA (AP) — Kamala Harris blasted Donald Trump as a threat to women’s freedoms and their very liv