Biggest bust in U.S. history leads to $1 billion in fake handbags, bogus brands, more

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(FOX NEWS) – Federal authorities and the NYPD have seized thousands of knock-off designer handbags and shoes with a street value of just over $1 billion, making it the largest bust in U.S. history, the U.S. Attorney’s Office for the Southern District of New York announced Wednesday.

The massive raid took place inside a storage facility in Manhattan, New York, where around 219,000 counterfeit bags, clothes, shoes and other luxury products were confiscated.

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Authorities said that the total estimated manufacturer’s suggested retail price (MSRP) of the fake goods tops $1.03 billion, although the street value of such counterfeit goods is typically much lower than the MSRP.

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