DOW JONES NEWSWIRES
A U.S. jury convicted two people for helping operate one of the
country's largest counterfeit luxury-goods operations, worth about
$100 million in fake goods, according to the Justice Department
Friday.
The ruling Thursday in a Richmond, Va., court found that Chong
Lam and Siu Yung Chan were guilty of conspiracy to sell fake goods
imported from China, of smuggling fake goods into the U.S. and of
trafficking in the handbags, wallets, purses, and carry-on
bags.
The department said the value of the corresponding authentic
luxury goods from Burberry (BURBY), Chanel, LVMH Moet Hennessy
Louis Vuitton SA (LVMUY), Gucci Group N.V. (GUCG, 35955-AE), Coach
Inc. (COH) and others is estimated to be more than $100 million.
Evidence presented at trial indicated Lam and Chan operated a
massive international manufacturing, import and wholesale
counterfeit goods business. The two were controlling officers of at
least 13 companies.
Luxury-goods makers have been aggressive in trying to eliminate
counterfeits in order to protect their brands' prestige.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com