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www.gray-robinson.com
38th International Precious Metals Conference
June 7th, 2014- June 10th, 2014JW Marriot Grande Lakes Resorts and Spa
Orlando, Florida
Speaker: Peter Quinter
www.gray-robinson.com
Peter Quinter, Chair
Customs and International Trade Law GroupGrayRobinson, P.A.
(954) 270-1864
[email protected]: Peter.Quinter1
Miami, Florida
Contact Information
www.gray-robinson.com
Gold, U.S. Customs and Money Laundering –
What is the Connection?
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Do you have questions about importing/exporting?
http://www.grcustomslaw.com
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United States District Court for the Southern District of Florida
United States of America vs.
Natalie Ladin and Jed Ladin
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Criminal Charges
1.Entering goods into the United States by means of
false statements in violation of 18 USC 545.
2.Smuggling in violation of 18 USC 545.
3.Conspiracy to commit money laundering, in
violation of 18 USC 1956.
4.Conspiracy to smuggle , in violation of 18 USC 371.
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Trade Based Money Laundering
- a means of transferring money from the United States to foreign countries via the purchase of foreign gold on other precious metals or general merchandise from overseas.
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Bank Secrecy Act
PATRIOT Act
FINCEN
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Allegation• Trade based money laundering
• Undervaluation of gold imports
• Overpayment for foreign seller for gold imports
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Importer Declared $6,451,904 in gold scrap shipments
Importer wired $24,317,665 to foreign seller of the scrap gold
Overpayment of $17,865,761
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• Declared value $187,673 according to commercial invoice of foreign shipper
• Assayed spot price value according to CBP $697,036
• Undervalued by 73%
• Upon conviction 20 years of imprisonment for each violation
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Harmonized Tariff Schedule of the United States
Chapter 71Natural or Cultured Pearls, Previous or semiprecious stones, precious metals, metals clad with previous metal, and articles thereof; imitation jewelry; coin
The term “precious metal” means- silver, gold, or platinum.
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Imported Silver, Gold, and Platinum enters the United States
DUTY FREE
• No Customs duties or fees are paid to
U.S. Customs and Border Protection
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U.S. Customs Entry Requirements
1. Value
2. Country of Origin
3. Description
4. Tariff Classification
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CBP Advance Ruling Procedures
Question:
how to properly value and declare to CBP scrap jewelry imported on consignments
Answer:
initially declared insurance value, then after assaying and determining a price, amend the declaration to CBP to reflect the actual price paid
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CBP Seizure Process
• Notice of Detention• Notice of Seizure from CBP Fines,
Penalties, and Forfeitures office
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30 Days to Respond
• 4 Options
– File a petition– Claim and cost bond– Abandonment– Offer in compromise
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How a Typical Seizure Case Commences with U.S. Customs and Border
Protection:• U.S. Customs finds a violation, and places
the merchandise on hold for “intensive examination”.
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What Type of Merchandise is Subject to Seizure?
• Prohibited Merchandise (Counterfeit, Controlled substances)
• Restricted Merchandise (CPSC, FDA, Quota)• Undeclared, unreported or smuggled merchandise
(non-reporting of currency over 10,000) • Goods which aid or facilitate the illegal importation of
merchandise
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FP&F Refers certain cases to CBP’s Headquarters
• Cases are sent to Chief, Penalties Branch, Regulations & Rulings, Office of International Trade
• Value of the merchandise is over $100,000.• Novel or complex issues concerning a Ruling, policy or procedure.• HQ Recommendation sent to FP&F and Final Decision issued by
FP&F.
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Currency Seizures
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Penalty Authority
• U.S. Customs Statutory authority to issue penalties is from Title 19 U.S.C. § 1592 for: Fraud Gross Negligence Negligence
• 19 CFR Part 171 Appendix B Offer in Compromise
www.gray-robinson.com
Peter Quinter, Chair
Customs and International Trade Law GroupGrayRobinson, P.A.
(954) 270-1864
[email protected]: Peter.Quinter1
Miami, Florida
Contact Information