Washington, USA: Monishkumar Kirankumar Doshi Shah, a 40-year-old Indian national from Mumbai and Jersey City, has been sentenced to 30 months in prison for evading customs duties and running an illegal money transmission operation in the United States. Shah was convicted after pleading guilty to wire fraud conspiracy and operating an unlicensed money transmission business.

Between December 2019 and April 2022, Shah attempted to avoid customs duties on over $13.5 million worth of imported jewellery from Turkey and India. He arranged for the goods to be shipped to South Korea, where they were relabeled to avoid duty charges. Shah also used fraudulent invoices and packing lists to disguise the goods' origins, helping to evade the required customs fees.

In addition to his prison term, Shah was ordered to pay restitution of $742,500 and forfeit $11.1 million linked to his illegal activities. He will also serve a two-year supervised release following his imprisonment. Additionally, Shah facilitated illegal money transfers totaling over $10.3 million through his businesses in New York's Diamond District, charging fees for processing the transactions.