Black market tobacco now 14.5 per cent of all consumption, Illicit Tobacco in Australia report shows
THE BILLION dollar illicit tobacco black market has hit a record high as Australian smokers baulk at the price of legal cigarettes. Criminals are exploiting the high price of legal smokes to make massive profits by smuggling in cheap tobacco from overseas. Last year 14.5 per cent of all tobacco consumed was illegal, according to a new report.
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Fake medicine hits retail investors hard
Individual investors took a severe beating from the fake herbal medicine produced by Naturalendo Tech, with their combined investment losses estimated at more than 600 billion won ($559 million).
“About 9,400 retail investors held a combined 54 percent stake in Naturalendo Tech as of the end of last year. They likely suffered hefty losses as the company’s stock prices fell sharply Thursday after the authorities said the herbal medicine contained uncertified ingredients,” an official at the tech-heavy KOSDAQ market said.
http://www.koreatimes.co.kr/www/news/biz/2015/05/488_178130.html
Lear MoreFeds seize large Fresno County tribal cache of cigarettes
Federal agents seized more than $600,000 in cigarettes destined for the Big Sandy Rancheria, but tribal leaders say the cigarettes were improperly confiscated and have filed legal action to have them returned.
The eastern Fresno County tribe, perhaps best known for its Mono Wind Casino in Auberry, is a major cigarette distributor to other California tribes including Chukchansi, which has its own federal issues — its casino has been under court-ordered closure since October
http://www.fresnobee.com/2015/05/02/4506652/feds-seize-large-fresno-county.html#storylink=cpy
Lear MoreEssex County Corrections Officer Accepted Bribes to Smuggle Cigarettes and Cell Phones
An Essex County corrections officer admitted that he accepted bribes in exchange for smuggling contraband – including cell phones and tobacco – into the Essex County Jail. John Grosso, 41, of Belleville, New Jersey, pleaded guilty on Thursday in federal court to conspiring to commit extortion under color of official right. According to court documents and statements, Grosso, a corrections officer at the Essex County Jail, admitted that in December 2013, he agreed to accept cash bribes in return for his assistance smuggling cell phones and cigarettes to an inmate.
Lear MoreMan gets year in prison for smuggling cigarettes from Missouri
A Chicago man has been sentenced to a year in prison after pleading guilty to smuggling black market cigarettes into Illinois from Missouri. Johnell E. Henderson, 36, was arrested May 15, 2013, after a traffic stop by Illinois State Police, according to a statement from the Illinois Department of Revenue. Henderson was caught with about 1,470 packages of Newport 100 cigarettes, bought in Missouri, the department said. IDOR agents determined he was not authorized to possess or transport the cigarettes.
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Inmate charged in smuggling try
Another Pulaski County jail prisoner has been arrested in connection with the April 23 attempted smuggling of contraband into the lockup, according to an arrest report.
Robert Timothy Thompson, 45, of 24007 W. Arkansas 107, Lot 2, in Jacksonville was arrested at the Pulaski County sheriff’s office at 9:45 a.m. Tuesday, the report said. Thompson was charged with eight counts of use of a communication device in the commission of a felony, and one count each of criminal attempt to possess marijuana, criminal attempt to possess methamphetamine and criminal attempt to possess drug paraphernalia.
Lear MoreBOC files smuggling complaint against steel traders
The Bureau of Customs (BOC) on Thursday filed a smuggling complaint against two traders and brokers for the illegal importation of steel products worth P3.98 million in 2013 and 2014.
Named in the complaint were Thunder Birds Trading owner Shine Montes, Sagfern International Trading owner Judy Fernandez and customs brokers Arnel Asuncion and ShielaLarrochea. It is the first complaint filed under new Customs Commissioner Alberto Lina.
“There was a very clear intent to cheat the government given the huge discrepancies in what they declared and what we found after examining their shipment,” Lina said.
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Counterfeits are on the rise, says Europol
More and more fakes are arriving in Europe from Asia, while domestic production is also on the rise, according to Europol’s 2015 counterfeiting report.The report is a collaborative effort between Europol and the Office for Harmonization in the Internal Market (OHIM) through the European Observatory on Infringements of Intellectual Property Rights.
Domestic EU counterfeit production is on the rise, according to the report, with cases originating in Belgium, Czech Republic, Spain and the UK.The report states the production of counterfeit goods in the EU is becoming “an increasingly profitable business” for criminal groups.
http://ipprotheinternet.com/ipprotheinternetnews/article.php?article_id=4363#.VUhz-o6qqko
Lear MoreHow to protect your bike brand against counterfeiters
How big is the counterfeiting problem in the bike trade? In an industry notoriously poor at collecting valuable statistics, it is hard to know for sure, but potentially dangerous knock-offs certainly are an issue, including infamous fakes like Chinarellos.
Patent and trade mark attorneys Appleyard Lees has some nuggets of wisdom on protecting against counterfeiting within the bike industry, via senior associate Robert Cumming and associate Chris Hoole…
Brands that want to maintain their reputation, and not risk getting dropped from the peleton, will implement a brand protection and anti-counterfeiting strategy.
Lear MoreFirm Warns Against Use Of Fake Electrical Products
A meter manufacturing firm, MOMAS Nigeria Limited Lagos, has urged the relevant agencies to urgently save Nigerians of millions of Naira arising from frequent replacement of fake electrical materials.
Chairman of the company, Mr Kola Balogun, made the appeal in an interview with newsmen in Lagos on Friday.Balogun said that the high rate of fake electrical equipment in the country could be responsible for the increasing fire outbreak in homes.
http://www.thetidenewsonline.com/2015/04/29/firm-warns-against-use-of-fake-electrical-products/
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