NEWARK, N.J. – A notable revelation emerged on Wednesday as a Middlesex County-based company, 21st Millennium Inc., and its overseers, Iqbal Virani and Aqib Virani, conceded to bypassing U.S. customs duties on gold jewelry imports.
Located in Iselin, New Jersey, 21st Millennium Inc. specializes in the gold jewelry trade. Between Jan. 1, 2017, and March 31, 2020, the company undertook more than 80 customs entries, each comprising jewelry sourced from abroad.
However, the company did not provide complete transparency to the U.S. Department of Homeland Security, Customs and Border Protection about the merchandise’s total value.
This misrepresentation led to a customs duty shortfall of $401,852. As part of a settlement, both the company and the Viranis have consented to remit $1 million to the United States.
The investigation was spearheaded by agents from the Department of Homeland Security, Homeland Security Investigations in New York. The U.S. Attorney’s office in Newark will represent the government in this matter.