CrimeJan 23, 2025
4 Men Arrested After Allegedly Plotting to Kidnap JewelerCrimeJan 27, 2025
New Jersey Jeweler Sentenced to 2 1/2 Years for Evading Customs
Monishkumar Kirankumar Doshi Shah pleaded guilty to evading customs on more than $13.5 million of jewelry imported into the U.S.
Jeweler Monishkumar Kirankumar Doshi Shah, also known as Monish Doshi Shah, was sentenced to 30 months in prison after pleading guilty to evading customs duties and processing millions of dollars through an unlicensed money transmitting business.
Newark, N.J.—A 40-year-old jeweler was sentenced to 30 months in prison last week after pleading guilty to evading customs duties and operating an unlicensed money transmitting business.
Monishkumar Kirankumar Doshi Shah, also known as Monish Doshi Shah, of Mumbai, India, and Jersey City, New Jersey, evaded customs on more than $13.5 million in jewelry imported into the United States, according to a press release from the U.S. Attorney’s Office in New Jersey.
He was also found to have processed more than $10.3 million through an unlicensed money transmitting business.
According to the U.S. Attorney’s Office, Shah’s schemes to evade paying customs duties on jewelry started in December 2019 and continued through April 2022.
The jeweler or his conspirators would ship jewelry from Turkey or India to one of Shah’s companies in South Korea. If these goods had been 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 the shipments were from South Korea instead of Turkey or India, according to court documents and statements made in the case.
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.
Related stories will be right here …
Monishkumar Kirankumar Doshi Shah, also known as Monish Doshi Shah, of Mumbai, India, and Jersey City, New Jersey, evaded customs on more than $13.5 million in jewelry imported into the United States, according to a press release from the U.S. Attorney’s Office in New Jersey.
He was also found to have processed more than $10.3 million through an unlicensed money transmitting business.
According to the U.S. Attorney’s Office, Shah’s schemes to evade paying customs duties on jewelry started in December 2019 and continued through April 2022.
The jeweler or his conspirators would ship jewelry from Turkey or India to one of Shah’s companies in South Korea. If these goods had been 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 the shipments were from South Korea instead of Turkey or India, according to court documents and statements made in the case.
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.
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, the U.S. Attorney’s Office said Shah 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.
Shah 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 in September.
In addition to serving 30 months in prison, Shah agreed to pay CBP restitution of $742,500 for evading customs and forfeit a total of $11.1 million for the customs evasion and unlicensed money transmitting schemes.
The court also set a two-year term of supervised release.
More on Crime
The Latest
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 07, 2026
Empire Safe & Vault Promotes Juan Morales to CEOAs part of the transition, Joseph Nicosia has stepped into the role of COO.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
