Noble Jewelry Pays $3.85M For Dodging Import Duties

Law360, New York (August 31, 2011, 3:31 PM EDT) -- A New York jeweler with extensive ties to Hong Kong agreed Monday to pay $3.85 million for understating the value of imported jewelry to U.S. customs officials, ending a False Claims Act whistleblower suit launched by an ex-employee.

As a result of the deal, approved by U.S. District Judge John G. Koetl, qui tam plaintiff Kenneth Karlin, a manager who worked for a unit of defendant Noble Jewelry Ltd. in 2006 and 2007, will receive $727,000 once the settlement money is paid.

Noble Jewelry and its...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.