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The Justice Department says the plan avoided $1.8 billion in tariffs
The U.S. federal jury ruled that six corporate entities related to Chinese billionaire Liu Zhongtian were involved in a widespread conspiracy to use wire transfers and customs fraud schemes to deceive the United States in order to avoid paying tariffs and enhance the value of China Zhongwang. According to a statement from the Department of Justice, Holdings is the largest aluminum profile manufacturer in Asia.
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According to the U.S. Department of Justice, in a statement issued on August 23, China Zhongwang Holdings; former president and chairman Liu of the company; several individual defendants; The goods are disguised as pallets to avoid paying the $1.8 billion anti-dumping and countervailing duty imposed on certain types of extruded aluminum imported from China to the United States in 2011.
"The aluminum sold to the American company controlled by Liu is just aluminum extrusions that are spot welded together to make them look like functional pallets," the Justice Department said. "In fact, between 2011 and 2014, the 2.2 million pallets imported by Liu's holding company had no customers and no pallets were sold."
According to the US Department of Justice, most pallets are imported through the ports of Los Angeles and Long Beach, and then stored in four large warehouses in Southern California, all of which were purchased under Liu's instructions.
The Ministry of Justice stated: “Liu and his co-defendants carefully planned to sell aluminum to a company controlled by Liu in Southern California, in order to falsely exaggerate the value of China Zhongwang.” “…Because there is no actual demand for pallets, the defendant Liu and China Zhongwang arranged arrangements. Build and purchase aluminum smelting facilities to reconfigure aluminum imported as pallets into a form of commercial value."
The U.S. Department of Justice stated that two aluminum companies and four warehousing companies-all of which are related to each other-were convicted of one count of conspiracy, nine counts of wire fraud, and seven counts of passing false and fraudulent documents through customs. Of charges. These companies are Perfectus Aluminium; Perfectus Aluminum Acquisition; Fleet Development; 1001 Sojitz; Von Carmen Avenue; and 10681 Production Avenue.
According to the Ministry of Justice, the two Perfectus companies were also convicted of seven other counts of international promotional money laundering.
A spokesperson for Zhongwang did not immediately respond to a request for comment on August 24.
The six companies are scheduled to be sentenced on December 13.
The U.S. Department of Justice stated that the other four defendants charged in the 2019 federal grand jury indictment have not yet appeared in the U.S. court to face criminal charges related to this matter.
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