New Jersey Jeweler Pleads Guilty To Evading Customs
Monishkumar Kirankumar Doshi Shah admitted to dodging customs duties on more than $13.5 million of jewelry imported into the U.S.

Monishkumar Kirankumar Doshi Shah, also known as Monish Doshi Shah, of Mumbai, India, and Jersey City, New Jersey, pleaded guilty in federal court to evading customs duties on more than $13.5 million of jewelry imports into the United States.
He was charged in an information with one count of conspiracy to commit wire fraud and entered his plea before U.S. District Judge Esther Salas on Sept. 10.
From December 2019 through April 2022, Shah schemed to evade duties for jewelry shipments from Turkey and India to the U.S., said a statement from the office of U.S. Attorney for the District of New Jersey Philip R. Sellinger.
Shah or his conspirators would ship the goods from Turkey or India to one of Shah’s companies in South Korea. If these goods were shipped directly to the U.S., they would have been subject to a 5.5 percent duty.
Shah’s connections would change the labels on the jewelry to state that they were from South Korea instead of Turkey or India, according to information from court documents and statements.
The goods then were shipped to Shah or his customers in the U.S., unlawfully evading customs duties, the U.S. Attorney’s Office said.
Shah told his connections to make fake invoices and packing lists to make it look like his South Korean companies were ordering the jewelry from Turkey or India.
He also instructed a third-party shipping company to provide false information to U.S. Customs and Border Protection (CBP) regarding the origin of the jewelry.
During this time, Shah shipped approximately $13.5 million of jewelry from South Korea to the U.S. without paying the appropriate duty, said the U.S. Attorney’s Office.
Shah also pleaded guilty to one count of operating, and aiding and abetting the operation of, an unlicensed money transmitting business.
From July 2020 through November 2021, he owned and/or operated several jewelry companies in New York’s Diamond District, including MKore LLC, MKore USA Inc., and Vruman Corp.
He used these businesses to conduct more than $10.3 million in illegal financial transactions for customers, including converting cash to checks or wire transfers, according to statements and court documents.
He would also collect cash from customers and use other individuals’ jewelry companies to convert the cash into wires or checks.
“At times, Shah and other members of the money transmitting business moved hundreds of thousands of dollars in a single day,” said the U.S. Attorney’s Office.
Shah and his conspirators would charge a fee for this service.
None of the companies run by Shah or his associates were registered as money transmitting businesses with New York, New Jersey, or the Financial Crimes Enforcement Network.
Per the terms of his plea agreement, Shah agreed to pay CBP restitution of $742,500 for the customs evasion scheme and forfeit a total of $11.1 million for the customs evasion and unlicensed money transmitting schemes.
He faces up to 20 years in prison on the wire fraud conspiracy charge and up to five years for the charge of operating an illegal money transmitting business.
Each count is also punishable by a maximum fine of either $250,000 or twice the gain or loss from the offense, whichever amount is greater.
Shah’s sentencing is scheduled for Jan. 23, 2025.
The Latest

Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.

The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.

Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.


The Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.

Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.

NYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.

U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.

A new court filing details the locations of the stores that will close, as well as the 830 that will remain open.

The new catalogs are “Tools, Equipment, & Metals” and “Findings & Metals.”

Sapphire’s variety of colors make it the perfect birthstone for September.

The retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.

Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.

The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Sponsored by Clientbook

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.