Friday, September 4, 2020

Customs Fraud and Tax Fraud Gets Fashion Company $118 Million Fine

In a customs fraud scheme, Ambiance Apparel imported clothing from Asian countries and submitted fraudulent invoices to U.S. Customs and Border Protection (CBP) that undervalued the shipments and allowed Ambiance to avoid paying the full amount of tariffs owed on the imports. At the driection of the American importers, the Asian manufacturers prepared two invoices for the clothing, one that usually reflected 60 to 70 percent of the actual price and was paid by letter of credit, and one that reflected the balance of the actual price and was paid by wire transfer.

To read the U.S. Department of Justice press release CLICK HERE.

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