Woman Jailed For Money Laundering, Reselling Stolen Goods on eBay
A Massachusetts woman will go to federal prison for 18 months after running an eBay reselling scheme involving stolen goods.
According to an official release from the IRS, Mimi Mai, of Springfield, Mass., was sentenced by United States District Court Judge Mark G. Mastroianni. In addition to the year-and-a-half she will spend behind bars, Mai was ordered to subsequently serve two years of supervised release.
Mai is also required to pay $3,472 in restitution and to forfeit $1.5 million to the U.S. government.
Last December, Mai pleaded guilty to a single count of interstate transportation of stolen goods, four counts of money laundering, and two counts of engaging in monetary transactions in property derived from specified unlawful activity. All of the crimes involve a scheme she ran out of her Holyoke, Mass. pawn shop, EZ Exchange.
Mai's criminal activity began when she started purchasing knowingly stolen goods from various individuals at a low price. She then resold the products on eBay at a large markup. Among the stolen wares were household items of all kinds, power tools, electronics, sunglasses, and beauty and personal care items. From 2018 through 2021, Mai earned more than $2.1 million from the illegal sale of stolen goods listed as "New" on her eBay storefront.
Mai purchased vacation property in Florida with her earnings.
It is not known where Mai will serve her prison sentence.
The IRS - Criminal Investigation division has recently cracked down on situations like Mai's. In November 2022, authorities arrested a Pennsylvania man for a similar scheme in which he sold goods shoplifted by local drug addicts on the Amazon marketplace.
In another case earlier this year, five members of the same family were sentenced to prison for a $50 million scam involving the online sale of counterfeit Apple and Samsung cell phones.
What do you think about this case?
You Might Also Enjoy:
Feature Image Credit: Justin Sullivan/Getty Images
Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.
In the face of economic uncertainty, TaxBuzz is the industry's most up-to-date tax information.
Join 60,000 who get our weekly newsletter. No spam.
Need help selecting a firm?
Use our specialized search engine and get matched to the best accounting and tax firm for your needs.