Indian man gets 30-month prison term in US for customs duty evasion

Q: How long will it take to read this news story?

The story "Indian man gets 30-month prison term in US for customs duty evasion" has 530 words across 16 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Indian man gets 30-month prison term in US for customs duty evasion" was covered 6 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 277 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25390333</li><li>URL: https://chronographically.beamstart.com/news/indian-man-gets-30-month-17376948236011</li></ul>

Business Standard Logo Business Standard 6h ago

Indian man gets 30-month prison term in US for customs duty evasion - Business Standard

Quick Summary:

Acting US Attorney Vikas Khanna said Monishkumar Kirankumar Doshi Shah (4O) of Mumbai and Jersey City, New Jersey, previously pleaded guilty before US District Judge Esther Salas to a two-count information, charging him with conspiracy to commit wire fraud and operating and aiding and abetting the operation of an unlicensed money transmitting business.

An Indian man who ran jewellery companies in New York has been sentenced to 30 months in prison for evading customs duty for importing jewellery worth more than USD 13.5 million and for illegally processing over USD 10.3 million through an unlicensed money transmitting business, a US attorney said.

In addition to the prison term, the judge ordered restitution in the amount of USD 742,500 for the wire fraud scheme and forfeiture of USD 11,126,982.33 for the wire fraud and unlicensed money transmitting schemes.