Counterfeiting and piracy is a huge part of the underground economy. The underground economy has become a focus for the California Board of Equalization as they try to ensure that counterfeiters are no longer allowed to profit from their illicit activities.
It is estimated that the underground economy costs the state of California over 500 million a year in lost tax revenue. Let’s not forget the ties to human trafficking and child labor. The Board of Equalization has teamed up with Crime Stoppers, LAPD, and The Los Angeles County Sheriff’s Department to bring down intellectual property crimes.
Jerome Horton, The Chairman of the Board of Equalization is leading the charge and he announced their efforts recently at a press conference at the Port of Los Angeles.
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By Kris Buckner, Investigative Consultants