Reported by Jake Rodriguez

An L.A. Fashion District wholesaler, C’est Toi Jeans, Inc. (CTJ), along with its two executives have been convicted on multiple charges of money laundering and tax evasion, according to the U.S. Attorney’s Office, Central District of California. In a six-week trial that concluded on Tuesday, the defendants were found guilty of several felonies, including failure to accurately report over $17 million in cash-derived transactions and avoidance of more than $8 million in customs duties.

The proceedings revealed that Si Oh Rhew, 70, the company’s president, and his son Lance Rhew, 37, a corporate officer of CTJ, were engaged in a scheme to undervalue imported apparel, which was mainly sourced from China. 

The aim was to artfully avoid higher tariffs and duties owed to U.S. Customs and Border Protection. 

Si Oh Rhew and his company were also implicated in additional counts of money laundering that involved drug proceeds, as noted by the U.S. Attorney’s Office, Central District of California.

Read full report: https://hoodline.com/2024/10/l-a-fashion-wholesaler-and-executives-convicted-of-money-laundering-and-tax-evasion/