Dazzling Deception: Jersey City Jeweler Jailed for $13.5M Customs Fraud in Global Smuggling Scandal

By The Garden State Gazette
February 16, 2025

In a tale of greed, glamour, and global intrigue, a Jersey City jeweler has been sentenced to 30 months in federal prison for masterminding a jaw-dropping $13.5 million customs tax evasion scheme. Monishkumar Kirankumar Doshi Shah—known as "Monish Doshi Shah"—wove a web of deceit that spanned continents, from the glittering Diamond District of New York City to the bustling markets of Mumbai and the shipping hubs of South Korea. His high-stakes operation not only cheated U.S. authorities out of millions but also funneled over $10.3 million through an illegal money transmitting business.

The Glittering Facade of Fraud

Between December 2019 and April 2022, Shah ran multiple jewelry companies, including MKore LLC and Vruman Corp., in New York’s famed Diamond District. But behind the sparkle of his businesses lay a shadowy operation designed to outwit U.S. Customs and Border Protection (CBP).

Shah’s scheme was as bold as it was elaborate: instead of shipping jewelry directly from Turkey and India to the U.S.—where a 5.5% customs duty applied—he rerouted the goods through South Korea. There, his co-conspirators altered shipment labels to falsely claim the jewelry originated in South Korea, which allowed him to dodge millions in duties. To make it all seem legitimate, Shah fabricated invoices and packing lists, creating a paper trail as fake as the origins he claimed for his goods.

But Shah didn’t stop there. He even enlisted a third-party shipping company to provide false information to CBP about the shipments’ origins. The result? A staggering $13.5 million worth of jewelry smuggled into the U.S., duty-free, while legitimate businesses played by the rules and paid their dues.

Millions Laundered in Plain Sight

As if smuggling wasn’t enough, Shah turned his jewelry empire into a front for illegal financial dealings. Between July 2020 and November 2021, he operated an unlicensed money transmitting business that moved over $10.3 million for clients desperate to convert cash into checks or wire transfers without raising red flags.

On some days, Shah’s network handled over $1 million in cash transactions—money that flowed through other jewelry companies to mask its true origins. For these covert services, Shah charged hefty fees, all while skirting registration requirements with New York, New Jersey, and federal authorities.

The Fall of a Fraudster

Shah’s glittering facade began to crack in September 2024 when he pleaded guilty to conspiracy charges for wire fraud and operating an unlicensed money transmitting business. On January 23, 2025, U.S. District Judge Esther Salas handed down his sentence: 30 months behind bars, two years of supervised release, $742,500 in restitution to CBP, and the forfeiture of $11.13 million tied to his crimes. The courtroom drama ended with Shah being taken into custody immediately—a stark contrast to the luxury he once enjoyed.

A Wake-Up Call for International Trade

This case is more than just one man’s downfall; it’s a warning shot across the bow of international trade fraudsters everywhere. The intricate scheme unraveled thanks to the relentless efforts of multiple agencies, including Homeland Security Investigations (HSI), CBP, and IRS Criminal Investigation (IRS-CI). Acting U.S. Attorney Vikas Khanna called Shah’s actions “a calculated betrayal” of U.S. customs laws and financial regulations.

The successful prosecution highlights how authorities are stepping up their game against increasingly sophisticated fraudsters who exploit global trade systems for personal gain.

A Local Scandal with Global Reach

For Jersey City residents and New Jerseyans alike, this case hits close to home—and serves as a stark reminder that even local businesses can be fronts for global crime syndicates. While Shah’s schemes spanned continents, his base in Jersey City underscores how these crimes can infiltrate everyday communities.

Legitimate businesses were left at a disadvantage while Shah lined his pockets with ill-gotten gains. His actions not only defrauded the government but also undermined honest entrepreneurs trying to compete in good faith.

Justice Served: A Message to Fraudsters Everywhere

The sentencing of Monishkumar Kirankumar Doshi Shah sends a clear message: no matter how elaborate or international your scheme may be, justice will catch up with you. This case shines a light on both the audacity of modern financial crimes and the tireless work of law enforcement agencies committed to protecting commerce integrity.

As Shah begins his prison term, his story serves as a cautionary tale—a reminder that behind every glittering facade lies the potential for shadows when greed takes hold.

This dazzling deception may have cost taxpayers millions, but it also proves one thing: when it comes to upholding justice, U.S. authorities won’t back down from unmasking even the most intricate schemes hidden beneath layers of lies—and layers of gold!