NYC’s Counterfeit Sellers Forced To Pay Up!


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.]

Apr 8, 2010 12:30pm PDT

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