Crime

New Jersey Jeweler Sentenced to 2 1/2 Years for Evading Customs

CrimeJan 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.

Stock image of gavel, books, and handcuffs
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 … 

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.

The Latest

Set of four Patek Philippe “Star Caliber 2000” pocket watches
AuctionsSep 17, 2025
Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+

A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.

Journey of a Jeweler by Silvia Furmanovich
TrendsSep 17, 2025
Silvia Furmanovich’s Book Tells the ‘Journey of a Jeweler’

The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.

1978 Rolex Submariner Ref. 1680 Tiffany Dial
WatchesSep 17, 2025
Bob’s Watches Acquires Vintage Rolex Won on ‘The Price is Right’

The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.

reDollar-fine-jewelry-department.jpg
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment Program

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Jewelers Mutual Group logo
TechnologySep 17, 2025
Jewelers Mutual Launches Shipping Solution App for Shopify

The new integration allows users to manage shipments directly from the Shopify dashboard.

Weekly QuizSep 12, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Shot of one of the pools at the Omni La Costa Resort & Spa in Carlsbad, California
EditorsSep 16, 2025
Out & About: 7 Great Quotes From Converge in Carlsbad

At Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.

Chopard Ice Cube Modular Necklace
CollectionsSep 16, 2025
Chopard Adds New Designs to Its ‘Ice Cube’ Capsule Collection

The jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.

japac-btyb.png
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key Issues

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

Natural Diamond Council Retailer Accreditation Program seal
SourcingSep 16, 2025
Natural Diamond Council Launches Retailer Accreditation Program

Ben Bridge Jeweler and Lux Bond & Green were a part of the pilot program. 

Kristen Bell, Angela Bassett, Lisa Manobal
EditorsSep 15, 2025
Skipping the Necklace, Embracing Snakes: The Best Jewelry From the 2025 Emmy Awards

Associate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.

Holiday presents in gift boxes
SurveysSep 15, 2025
Resilient Shoppers to Boost Holiday Retail Sales, Says Deloitte

It’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.

Buffalo Emerald
SourcingSep 15, 2025
Gemfields Achieves $32M at High-Quality Emerald Auction

It included the sale of the 11,685-carat “Imboo” emerald that was recently discovered at Kagem.

8.33-carat emerald-cut no-oil Brazilian emerald, A. Kleiman & Co.
SourcingSep 15, 2025
AGTA Elects 8 Members to Board of Directors

The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.

Rough montana sapphire
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, Montana

Associate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.

Arunashi Fordite and Rhodolite Earrings
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite Earrings

Fordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.

Susan Jacques and Al Gilbertson
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley Award

Gilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.

Supreme Court stock image
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November

A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.

Tabayer’s Nordstrom Shop-in-Shop
MajorsSep 11, 2025
Tabayer Opens Nordstrom Shop-In-Shop

Located in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.

De Beers education app on mobile phone
SourcingSep 11, 2025
Need to Sell More Natural Diamonds? De Beers Has an App for That

The new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.

Gold jewelry on a scale
MajorsSep 10, 2025
Stuller to Swap Gold Scrap for Full Credit to Account

As the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.

Jacob and Co Loewe headphones
SourcingSep 10, 2025
Tech Meets Style in the New Loewe x Jacob & Co. Headphones

Jacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.

Tiffany & Co Favrile Beetle Necklace in Frankenstein
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’

Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.

24 Karat Club banquet
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf Astoria

The Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.

Anglo American’s Quellaveco copper mine in Peru
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner

Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.

The Mellon Blue diamond
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s

The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.

Dianne Batista Phillips Auctions
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New York

The industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.

Anastacia Lauren, Elle Jerge, Logan Nye
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship Winners

The nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy