Billion-Dollar Jewelry Tax Scandal | Chicago News

Federal agents in Chicago just dropped charges on three jewelry importers accused of smuggling millions in gold jewelry from India and the UAE, falsely claiming it came from tax-free countries like Oman and Singapore to dodge U.S. duties. Narain Gulabani’s company allegedly evaded over $13 million in taxes, while the Kohlis’ scheme cost customs $38 million. These cases are part of a massive Justice Department crackdown — the Trade Fraud Task Force has recovered or penalized over $1 billion in just one year, signaling a serious push to protect the economy from tax fraud and forced labor. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c60378306a691682