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SWAG Feds Seize $325M in Fake Goods Bill Kostroun / AP Photo

Feds Seize $325M in Fake Goods

Stop that purse! Federal authorities say they’ve made one of the biggest counterfeit-smuggling busts ever after arresting 29 people from the United States and China. The individuals have been implicated and charged in a smuggling ring that stood to make a fortune on goods that would have been worth hundreds of millions if they’d been the real thing. Homeland Security and FBI authorities worked on the probe, which involved high-end names like Gucci, Ugg, Burberry, Coach, Nike, and Louis Vuitton. The nab is gargantuan: in 2011, $178 million in smuggled goods were caught by authorities. Officials believed that the items—stopped at a New Jersey port—were to be sold in New York City and other areas.

March 2, 2012 6:07 PM