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New York importers Chong Lam and Siu Yung Chan have been convicted by a federal jury of trafficking over $100 million in counterfeit luxury goods from China. Trial evidence showed that Lam and Chan ran at least eight fake-bag factories; authorities say they imported over 300,000 trademark-infringing counterfeit products into the USA over the course of three years. The penalty?
Lam and Chan each face a maximum of five years in prison and a $250,000 fine for the conspiracy count, 10 years in prison and a $2 million fine for each trafficking count and five years in prison and a $250,000 fine for each smuggling account.This isn't the first time the defendants have been caught red-handed: in 2008, Lam and Chan had to pay Louis Vuitton over $3.5 million for trademark infringement, reports WWD.
"The Department of Justice will continue aggressively to prosecute intellectual property crimes and to protect business and consumers alike from those looking to cheat their way to a quick profit," Lanny Breuer, assistant attorney general, said.
· Luxury Counterfeiters Found Guilty [WWD]