NJ Jewelry Company, 2 Owners Settle Duty Evasion Case, Agree to Pay $1 Million
New Jersey jewelry company 21st Millennium and two individuals "who own or control the business," Iqbal Virani and Aqib Virani, admitted to evading customs duties on gold jewelry imports, the U.S. Attorney's Office for the District of New Jersey announced. Per the terms of a settlement agreement, the company and the two owners also agreed to pay $1 million to the U.S. after admitting to evading over $400,000 in customs duties.
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From 2017 to 2020, 21st Millennium was the importer of record for over 80 entries of jewelry made in and imported from unnamed foreign countries. The Viranis caused the firm to give its customs brokers false information that undervalued the total value of the jewelry, the U.S. Attorney's Office said.
Under the settlement, 21st Millennium will pay $800,000 to the U.S. and Iqbal and Aqib each will pay $100,000. Also as part of the deal, the company will mark the merchandise that CBP seized with the proper country of origin and "file any additional entry documents," if needed.