Indian Man Gets 30-Month Jail In US For Customs Duty Evasion On Jewellery

The individual masterminded a calculated plan to circumvent the legal duties associated with importing jewellery shipments from Turkey and India into the United States. He took intentional actions to avoid the required customs duties, which are typically imposed on such shipments, in order to reduce costs and increase profits. The man actively manipulated the system, engaging in fraudulent practices to bypass the proper payment of duties as the goods entered the country.

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Indian Man Sentenced to 30 Months in Prison for Evading Customs Duties

A US attorney reported that an Indian man, who ran jewellery companies in New York, received a 30-month prison sentence for evading customs duties on jewellery worth more than USD 13.5 million and illegally processing over USD 10.3 million through an unlicensed money transmitting business. Acting US Attorney Vikas Khanna stated that Monishkumar Kirankumar Doshi Shah (40), from Mumbai and Jersey City, New Jersey, had pleaded guilty before US District Judge Esther Salas to a two-count information. The charges accused him of conspiring to commit wire fraud and aiding and abetting the operation of an unlicensed money transmitting business.

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The judge sentenced Shah to prison and ordered him to pay restitution of USD 742,500 for his involvement in a wire fraud scheme. Additionally, the court mandated Shah to forfeit USD 11,126,982.33, which relates to both the wire fraud activities and his participation in unlicensed money transmitting schemes. Court documents show that Shah carried out his fraudulent activities over an extended period, from around December 2019 to April 2022. During this time, Shah actively engaged in a scheme to intentionally evade the required duties on jewelry shipments imported from Turkey and India to the United States. Instead of complying with customs laws and duty regulations, Shah manipulated the shipments to avoid the legal financial obligations tied to them.