All tag results for 'canal street'

New York City is continuing their crackdown on counterfeit goods being sold on Canal Street.

On Thursday councilwoman Margaret Chin, who represents the Chinatown district, plans to introduce a bill that would punish those buying designer knockoffs.

If caught in the act, shoppers would face a $1000 fine or a year in jail.

Ouch.

We applaud her effort of fighting fakes, but would this new law work?

According to police, not a chance. One officer flat out said "it's never going to fly" because it would be too difficult to enforce.

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[Image via AP Images.]

Tags: canal street, chinatown, counterfeit crackdown, counterfeits, fake designer goods, fakes, margaret chin, new bill, proposal

New York City is fighting back against the counterfeit good sellers in the city's infamous Canal Street area of Chinatown.

After shutting down some 32 stores in 2008 from a raid that seized over $1 million in counterfeit goods, mayor Michael Bloomberg is allowing the shops to reopen so long as they pay $800,000 to the city.

The 6 figure payment deal comes as a result of a lawsuit filed by the New York State Supreme Court against the estate of Vincent Terranova, who owns the properties. The estate agreed to the $800,000 and so long as the shop owners pay it, they can reopen for "legitimate" business.

Bloomberg said in a statement:

"Property owners should know that they are responsible for what goes on in their buildings and that the hosting of illegal activity like counterfeiting is a losing proposition. Counterfeiting deprives legitimate businesses of their customers and employees of their paychecks."

It's a start, but we have a feeling tourists will still be able to snatch those Kade Spate and Cucci bags. They'll just have to look harder!

[Image via AP Images.]

Tags: canal street, chinatown, counterfeits, handbag, michael bloomberg, new york city