Articles Posted in Gucci knockoff info case

A daily fine of $50,000 against Bank of China Ltd will be imposed by a U.S. Federal Judge starting next week after holding it in contempt for refusing to turn over account information on Chinese customers accused of selling counterfeit luxury goods.

U.S. District Judge Richard Sullivan in Manhattan said the “coercive fine” will be imposed starting on Dec. 8 unless the state-run bank complies with subpoena requests for the records.

Bank of China is appealing the order.