Fashion Importer To Pay $118M Over Laundering Scheme
Law360 (August 26, 2020, 10:22 PM EDT) -- A Los Angeles fashion company under-invoiced imported clothes as a way of avoiding customs tariffs and laundering money, federal prosecutors said Wednesday as they announced Ambiance Apparel and its owner had agreed to plead guilty to the scheme and pay $118 million.
Ambiance USA Inc. and Apparel Line USA Inc., along with proprietor Sang Bum "Ed" Noh, pled guilty to customs fraud and money laundering, with Noh also pleading guilty to tax evasion, according to agreements filed Tuesday in federal court in Los Angeles.
Prosecutors had accused Ambiance of avoiding tariffs between 2010 and 2014 by giving fake invoices to U.S....
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