China: Gang made, sold almost 1M fake luxury bags
Police in China have arrested 73 people suspected of manufacturing and selling almost 1 million fake luxury bags.
The Ministry of Public Security says police seized more than 20,000 fake Louis Vuitton, Hermes and Coach bags and closed 37 sites where the forgery ring made or sold the bags. Police say the ring sold more than 960,000 bags and exported many to the United States and Middle East.
The ministry says police in southern Guangdong province uncovered the forgery ring in January and that Chinese agents worked with U.S. customs and immigration officials in the case.
It says authorities seized assets worth $800 million, including unsold counterfeit goods, production equipment and bank accounts.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)