Antitrust & Trade Reg.
Apr. 13, 2022
6 businesses to pay $1.83B for sham aluminum sales
The scheme involved exporting aluminum disguised as pallets to avoid $1.8 billion in customs duties and then fraudulently selling to a network of connected businesses and warehouses to inflate the revenue of a Chinese company behind the businesses.
A federal judge has sentenced six Southern California businesses to pay $1.83 billion after ruling they illegally inflated the value of a Chinese company via sham sales of aluminum.
The scheme involved exporting aluminum disguised as pallets to avoid $1.8 billion in customs duties and then fraudulently selling to a network of connected businesses and warehouses to inflate the revenue of a Chinese company behind the businesses, according to...
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