Indian-American jeweler Monishkumar Shah charged with evading millions in customs duties and operating unregistered money enterprises.
Indian-American jeweler Monishkumar Kirankumar Doshi Shah has been charged with evading millions of dollars worth of customs duties on jewelry imports into the US and operating unregistered money transmission enterprises. Based in Mumbai and New Jersey, Shah allegedly shipped jewelry from Turkey and India through South Korea, falsely indicating its origin as South Korean, to evade the applicable 5.5% duty. He also operated multiple jewelry companies in New York's Diamond District for conducting millions of dollars in illicit financial transactions.
February 28, 2024
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