SWAG

Feds Seize $325M in Fake Goods

Bill Kostroun / AP Photo

Customs and Border Patrol Director Robert E. Perez speaks at a news conference in Newark, N.J. on Friday, announcing the uncovering of one of the largest counterfeit goods smuggling operations ever charged.

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.