Indian-American Jeweler Indicted for Multimillion-Dollar Trade Fraud and Illegal Money Operations

Monishkumar Kirankumar Doshi Shah is accused of evading customs duties on imported jewelry and running unlicensed money transmitting businesses.

Monishkumar Kirankumar Doshi Shah, a jeweler based in Mumbai and New Jersey, has been charged with wire fraud and operating unlicensed money transmitting businesses.
From 2015 to 2023, Shah allegedly evaded duties on jewelry imports from Turkey and India by rerouting them through South Korea.
Shah and his conspirators are accused of altering labels and creating fake invoices to disguise the origin of the jewelry.
Between 2020 and 2021, Shah operated several purported jewelry companies in New York City's Diamond District, conducting illegal financial transactions.
The charges against Shah include a maximum of 20 years in prison for wire fraud conspiracy and five years for operating an illegal money transmitting business.