NBI Seizes P145-M Worth of Counterfeit Luxury Products. On Wednesday, the National Bureau of Investigation (NBI) made a significant breakthrough in combating counterfeit luxury goods. The NBI’s Rizal District Office (RIZDO) conducted a high-profile operation in Binondo, Manila, resulting in the seizure of PHP 145 million worth of counterfeit luxury products.
NBI Seizes P145-M Worth of Counterfeit Luxury Products
The operation, executed on July 26, involved the enforcement of 30 search warrants across various commercial stores in Binondo. These warrants were issued based on violations of the Intellectual Property Code of the Philippines. The search targeted stores suspected of selling counterfeit luxury brands, which included high-end labels such as Balenciaga, Bottega Veneta, Gucci, Yves Saint Laurent (YSL), and Saint Laurent Paris.
Background of the Operation
The crackdown was initiated after the NBI received a formal complaint on June 26, alleging the sale of counterfeit goods by several establishments in Binondo. In response, the NBI-RIZDO launched a thorough investigation, leading to the execution of search warrants and the subsequent seizure of a large cache of fake luxury items.
NBI Director’s Statement
NBI Director Jaime Santiago highlighted the significance of the operation, emphasizing the NBI’s commitment to protecting intellectual property rights and ensuring fair market practices. Santiago’s statement underscored the NBI’s ongoing efforts to curb the proliferation of counterfeit goods, which not only infringe on intellectual property rights but also pose risks to consumers.
Impact and Next Steps
The seizure of counterfeit goods valued at PHP 145 million marks a substantial achievement in the fight against intellectual property crimes. The NBI’s actions are expected to send a strong message to those involved in the illegal trade of counterfeit products. The bureau will continue its efforts to monitor and enforce intellectual property laws to safeguard genuine brands and protect consumers from fraudulent practices.
Conclusion
The NBI recent operation in Binondo, resulting in the seizure of PHP 145 million worth of counterfeit luxury goods, highlights its commitment to protecting intellectual property rights. This significant action demonstrates the bureau’s ongoing efforts to combat counterfeit trade effectively.
