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.
Editors' Picks
Sponsored by
The Latest
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
