• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families

2

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring a recent role: 'Nobody on that list gets that job'

3

Current price of oil as of June 17, 2026

1

The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families

2

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring a recent role: 'Nobody on that list gets that job'

3

Current price of oil as of June 17, 2026
RetailLuxury

2 men charged with trafficking $1 billion of counterfeit goods from a storage locker in New York City

By
The Associated Press
The Associated Press
and
Irina Ivanova
Irina Ivanova
Down Arrow Button Icon
By
The Associated Press
The Associated Press
and
Irina Ivanova
Irina Ivanova
Down Arrow Button Icon
November 16, 2023, 10:52 AM ET
Knockoff Coach and Louis Vuitton handbags
Knockoff Coach and Louis Vuitton handbagsThomas Monaster/NY Daily News via Getty Images
Add Fortune on Google for similar content.

Federal authorities in New York City have announced the largest U.S. seizure of counterfeit goods, consisting of handbags, shoes and other luxury merchandise valued at more than $1 billion.

Recommended Video

Two people were charged with trafficking the knockoffs from a New York City storage unit and other locations from January through October, the U.S. Attorney’s Office said Wednesday.

Photographs released by prosecutors showed shelves stacked with counterfeit wallets and bags in one location and handbags hanging from hooks from floor to ceiling in another.

“The seizures announced today consist of merchandise with over a billion dollars in estimated retail value, the largest-ever seizure of counterfeit goods in U.S. history,” U.S. Attorney Damian Williams said. “This is a testament to the commitment of this Office and its law enforcement partners to combat counterfeit trafficking in New York City.”

New York Police Department Commissioner Edward Caban said in a statement that selling knockoff goods “harms legitimate businesses, governments, and consumers,” calling it “anything but a victimless crime.”

The two men charged could face up to 10 years in prison if convicted.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By The Associated Press
See full bioRight Arrow Button Icon
Irina Ivanova
By Irina IvanovaDeputy US News Editor

Irina Ivanova is the former deputy U.S. news editor at Fortune.

 

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

teens
EconomyJobs
Teen summer employment is headed for its worst year since 1948
By Matt Sedensky and The Associated PressJune 18, 2026
5 hours ago
The U.S. Polo Assn. CEO
SuccessThe Promotion Playbook
Meet the CEO of US Polo Assn: He grew up in one of America’s poorest regions and now hosts Prince William and runs a $2.7 billion brand
By Orianna Rosa RoyleJune 18, 2026
12 hours ago
The froyopocalypse is over. Gen Z is swarming frozen yogurt shops like it’s 2010
RetailGen Z
The froyopocalypse is over. Gen Z is swarming frozen yogurt shops like it’s 2010
By Sam Klebanov and Morning BrewJune 17, 2026
22 hours ago
retail
EconomyConsumer Spending
Americans are still spending their tax refunds — for now, as retail sales jump in May
By Anne D'Innocenzio and The Associated PressJune 17, 2026
1 day ago
A man sits at a red checkerboard table with a Tiffany-style Pizza Hut lamp hanging above him.
RetailFood and drink
Pizza Hut is getting the private equity treatment in a $2.7 billion deal as its owner offloads the brand that defined 1990s dining nostalgia
By Sasha RogelbergJune 16, 2026
2 days ago
butter
RetailFashion
Welcome to the summer of ‘Butter Yellow,’ the shade of consumer anxiety
By Nick LichtenbergJune 16, 2026
2 days ago

Most Popular

The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
Economy
The affordability crisis is so bad that, for the first time ever, both mom and dad are working full-time in most American families
By Jacqueline MunisJune 17, 2026
22 hours ago
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring a recent role: 'Nobody on that list gets that job'
Success
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring a recent role: 'Nobody on that list gets that job'
By Orianna Rosa RoyleJune 18, 2026
12 hours ago
Current price of oil as of June 17, 2026
Personal Finance
Current price of oil as of June 17, 2026
By Joseph HostetlerJune 17, 2026
1 day ago
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
Success
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
By Nick LichtenbergJune 16, 2026
2 days ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
3 days ago
Exclusive: Universal beat Disney as Hollywood's maker of the most expensive movie of all time 
Arts & Entertainment
Exclusive: Universal beat Disney as Hollywood's maker of the most expensive movie of all time 
By Christian SyltJune 17, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.