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Councilwoman Margaret Chin has reinvigorated the effort to have her 2011 bill banning the purchase of counterfeit goods passed. Currently it's not illegal to buy those designer-copy bags and Rolex-impostor watches on Canal Street (though it is illegal to manufacture them), but the bill aims to change that. A date for a public hearing on the bill should be announced in the coming months.
Chin—whose district includes Chinatown—proposes that the person buying the goods would be charged with a class A misdemeanor if they knew or should have known that "such trademark is counterfeit for reasons including, but not limited to, the quality and price of the purchased item, and/or the condition of the seller and the sale location." Translation? If you're buying a quilted "Chanel" for $50 on Canal, you could face a $1,000 fine and up to a year in prison. Less of a deal, more of a steal.
· New Counterfeit Law for N.Y. in Works [WWD]
· A Canal Street Knockoff Could Someday Cost You a $1,000 Fine [Racked NY]