Connect with us

Headlines

2 Accused of Selling Counterfeit Ray-Bans in $2M Fraud Case

They allegedly defrauded e-commerce customers.

Published

on

A federal grand jury has indicted two residents of Covina, CA, on a federal conspiracy charge, mail fraud, and trafficking in counterfeit goods.

They’re accused of importing and selling counterfeit Pandora Jewelry and Ray-Ban sunglasses. Xiaoying Xu, age 34, a Chinese citizen, and Yiwen Zhu, age 34, a Chinese citizen and legal permanent resident of the U.S., allegedly conspired with others to defraud e-commerce customers, obtaining more than $2 million in the scheme.

“These defendants allegedly imported counterfeit goods from China and sold them as legitimate merchandise using the registered trademarks of legitimate companies,” said U.S. Attorney Robert K. Hur.

“Those who traffic in counterfeit goods are committing a crime which results in American jobs lost, American business profits stolen, and American consumers tricked into receiving substandard products.”

The crimes are alleged to have occurred from about August 2016 until approximately April 2019, according to a press release from the U.S. Attorney’s Office for the District of Maryland.

The indictment alleges that the defendants used their residence and offices in El Monte and Alhambra, CA, as destination points for shipments of counterfeit goods shipped from Hong Kong and China. Xu and Zhu allegedly repackaged the counterfeit goods, then mailed them to unsuspecting customers throughout the U.S.

Advertisement

The defendants allegedly used fraudulent accounts set up with e-commerce marketplace companies to sell the goods, misrepresenting to customers that they were authentic. Xu and Zhu obtained funds from the victims of the counterfeit scheme through fraudulently acquired customer accounts opened in the names of other people at a global online payment company, according to the release.

The online payment company sent the victims’ money to Xu and Zhu by electronic transfer to bank accounts or by check, which the defendants then cashed at ATMs, the release states. The indictment alleges that the defendants then transferred the proceeds of the scheme from their bank accounts to other bank accounts opened in the names of other Chinese nationals.

If convicted, the defendants face a maximum sentence of five years in prison for conspiracy to commit mail fraud and traffic in counterfeit goods; a maximum of 20 years in prison for each of six counts of mail fraud; and a maximum of 10 years in prison for each of six counts of trafficking in counterfeit goods.

INSTORE was established in 2002 by SmartWork Media with the mission of informing and inspiring American jewelry retailers. Over the years, the company's jewelry magazines and websites have won 95 internatlonal publishing awards.

Advertisement

SPONSORED VIDEO

SPONSORED BY SAFILO

Safilo’s “American Eyes” Video Celebrates Elasta and Emozioni starring ECPs Peter Tacia and Heidi Dancer

For the third year in a row, Safilo has looked to trusted eyecare professionals to star in its American Eyes campaign for its Elasta and Emozioni collections.Their latest testimonials are from Peter Tacia, O.D. and Heidi Dancer, optician, of Alma, MI, talking about two best-selling collections: Elasta and Emozioni.

Promoted Headlines

Headlines

$28M Financing Round Will Support Corneal Disease Research

The company’s drug candidate could ‘eliminate the need for surgical intervention.’

mm

Published

on

SAN DIEGO — Trefoil Therapeutics announced that it raised $28 million in financing as it develops a treatment for corneal diseases.

The oversubscribed Series A round included new investors Bios Partners, which led the round, and Access Biotechnology. All existing investors, including Hatteras Venture Partners, Aju IB Investment, Correlation Ventures, ExSight Ventures and InFocus Capital Partners, participated in this financing.

Podcast: What the Heck is Marketing? And What Should ECPs Focus on to Attract New Clients?
INVISION Podcast

Podcast: What the Heck is Marketing? And What Should ECPs Focus on to Attract New Clients?

Podcast: More Ways to Motivate Your Own Eyecare Business Team
INVISION Podcast

Podcast: More Ways to Motivate Your Own Eyecare Business Team

Podcast: Why Can’t We All Just Get Along?
INVISION Podcast

Podcast: Why Can’t We All Just Get Along?

Stella M. Robertson, PhD, co-founder of Bios Partners, and a former vice president in research and development at Alcon Laboratories, will join Trefoil’s Board of Directors.

“Therapeutic options for endothelial corneal diseases are limited aside from cornea transplant surgery, which is invasive, expensive and may require life-long steroid use for immunosuppression,” said Richard L. Abbott, MD, professor emeritus, cornea and external diseases, UCSF Department of Ophthalmology.

“Fuchs dystrophy and other corneal endothelial diseases are among the leading causes of corneal transplantation. There is a high unmet need for a pharmacologic option that would allow treatment of these diseases earlier and potentially reduce or eliminate the need for surgical intervention.”

The company is developing novel engineered fibroblast growth factor-1 proteins (eFGF-1) as a regenerative pharmacologic therapy to treat serious corneal endothelial diseases and epithelial disorders.

Trefoil’s lead candidate, TTHX1114 ,is an engineered form of the FGF-1 protein designed to reverse vision loss by stimulating endothelial cell proliferation and migration.

Preclinical data has demonstrated TTHX1114’s ability to accelerate corneal clearing in animal models of corneal endothelial dystrophy and enhance healing in corneal chemical injury and herpetic keratopathy.

In human cornea organ culture models, TTHX1114 stimulates the proliferation and migration of endothelial tissue in both normal and diseased corneas, addressing the key defect in corneal endothelial dystrophies.

“Trefoil is developing TTHX1114 with the goal of providing the first regenerative therapeutic agent for the treatment of corneal dystrophy to reverse the vision loss associated with these conditions without the need for surgery for many patients,” said David Eveleth, PhD, co-founder and CEO of Trefoil. “We are grateful to our new and existing investors, who recognize the opportunity we have to make a meaningful difference in the lives of people with sight-destroying corneal diseases and conditions. We look forward to initiating our first clinical study early next year.”

Continue Reading

Headlines

Ransomware Attack Puts 106K Eyecare Patient Records at Risk

The files were ‘rendered inaccessible.’

mm

Published

on

Talley Medical Surgical Eyecare Associates in Evansville, IN, was hit by a ransomware attack that may have involved 106,000 patient records, Health IT Security reports.

Talley informed the Department of Health and Human Services of the breach on May 24.

The attack affected the practice’s electronic medical records, email, laptop computer, desktop and networ server, according to Health IT Security.

Files on the devices “were rendered inaccessible,” according to the publication.

The practice has not stated whether it paid to unlock the files.

Data subject to the potential breach included medical information and Social Security numbers.

Advertisement

The attack began in April.

Spam Fighter quoted Talley’s practice manager saying, “We were able to get our data back, but our practice does not wish to divulge any additional details.”

Read more at Health IT Security

Continue Reading

Headlines

Contact Lens Maker Acquired

The company sells the Extreme H2O product line.

mm

Published

on

ROCHESTER, NY — Clerio Vision Inc., a developer of laser-based vision correction solutions, announced that it has acquired Hydrogel Vision Corp. (HVC).

Financial terms of the deal were not disclosed.

HVC, founded in 2002, is best known for its Extreme H2O product line and its “multiple differentiated offerings that personalize the contact lens wearing experience,” according to a press release. For example, HVC offers lenses in multiple diameters, with smaller lenses to more comfortably fit those with smaller corneas or narrower eyelids, and larger lenses for those with larger corneas or for improved sports performance.

“As Clerio began preparations for its first contact lens offering, we quickly identified HVC as a best-in-class manufacturing partner,” said Alex Zapesochny, co-CEO of Clerio Vision. “We are thrilled to have now fully joined forces with HVC and to further build on its history of offering innovative products of the highest quality.”

HVC contacts are also made from a proprietary ultra-hydrating material that retains up to 99% of its moisture, “which can help to minimize the dryness and itchiness that is often experienced by contact lens wearers late in the day, and may be especially helpful to those who work a lot with screens or live in dryer climates,” according to the release. HVC also distributes the only disposable opaque color contacts for those with astigmatism.

Clerio was founded in 2014 to commercialize breakthrough femtosecond laser research at the University of Rochester. The company’s technology enables the laser writing of unique patterns into contact lenses that optimize visual acuity, including superior correction at both far and near distances for those with presbyopia. Clerio’s multifocal contact lens product is currently in clinical development and is expected to be on the market in the next 18 months.

HVC products are sold in 25 countries, either under the Extreme H2O brand or under one of several private label arrangements. All HVC employees will be retained and its manufacturing and fulfillment activities will continue to be carried out in its locations in Sarasota, FL.

Continue Reading

Advertisement

Advertisement

Advertisement

Most Popular