$1B in fake designer goods seized in largest bust in US history

Federal authorities and the NYPD have seized thousands of knock-off designer handbags and shoes with a street value of just over $1 billion, making it the largest bust in U.S. history, the U.S. Attorney’s Office for the Southern District of New York announced Wednesday.

The massive raid took place inside a storage facility in Manhattan, New York, where around 219,000 counterfeit bags, clothes, shoes and other luxury products were confiscated.

Authorities said that the total estimated manufacturer’s suggested retail price (MSRP) of the fake goods tops $1.03 billion, although the...