Chinese counterfeiter finds a comfortable life in California

[yuiyoshida]

SHANGHAI--The Chinese woman has a history of selling counterfeit luxury goods. She has been sued in the U.S. by eight luxury brands. She owes Chanel Inc. $6.9 million (847.4 million yen) for selling products online under its name.

None of it has stopped Xu Ting, a 45-year-old immigrant, from achieving a comfortable suburban life in San Diego with her husband and their 3-year-old son. Last year, she became a legal resident.

China is not the only country with a counterfeiting problem. Most fakes are made in China, but they are sold in America, where counterfeiting is rarely prosecuted as a crime. Lack of cooperation with China makes it easy for counterfeiters to move their money beyond reach--and hard to root out counterfeiting kingpins. As long as counterfeiters can stay out of jail and hold on to their profits--and consumers continue to buy--the trade in fakes will thrive.

"There's a million ways to game the system," said Dan Plane, an intellectual property lawyer in Hong Kong. "Probably the only thing that's going to stop her is when she passes away--probably on an island resort somewhere--or if she gets arrested."

http://ajw.asahi.com/article/asia/china/AJ201507120017

[daredtowork]

1. The US economic recovery aka the housing crisis

Last edited Sun Jul 12, 2015, 10:51 PM - Edit history (1)

The US courted Chinese investment, partly throught the 10x expanded EB-5 visa program and partly through feal estate investmentment firm junkets, to pay for massive development projects. There was no real demand for over-priced housing, but foreign investors/criminals would launder their money by buying 5 condos. Building useless luxury condos placed enormous pressure on the real housing market brcause there was no financial incentive to build affordable housing and luxury condos don't "trickle down". People on wall street got rich, used their money to create low end jobs, and proclaimed the economy had recovered. All we did is shelter criminal money from China in exchange for a fake develpment "demand".

What sucks is when the bubble collapses (which could be any minute given the Chinese stock market troubles), Americans will blame "foreigners" when both Federal and State govts. were on their knees begging for foreign aid masked as investment.