NBI raids in Binondo yield over P237-M fake goods

Over P237 million worth of counterfeit products were seized by the National Bureau of Investigation in a series of raids conducted in Binondo, Manila.

In a statement on Thursday, the NBI said that members of its Intellectual Property Rights Division served search warrants on several retail outlets within a shopping mall in the area on March 2 and March 3. Seized during the operations were a total of 2,820 counterfeit Louis Vuitton items.

“The total estimated market value of the confiscated goods is placed at approximately P217,470,489.60, marking a significant blow to the local trade of fraudulent luxury goods,” the NBI said.

Also seized were fake Longchamp merchandise, including 2,316 assorted bags, coin purses and wallets, with an estimated value of approximately P20.9 million.

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The NBI said that producing, selling and distributing the counterfeit items constitute a direct violation of Republic Act No. 8293, also known as the Intellectual Property Code of the Philippines.