⏱ 2 min read
A $25 million to $65 million timber trafficking scheme has finally been busted, with Miami-based Boise Cascade taking the hit. The company pleaded guilty to violating the Lacey Act for its role in the scheme, which saw them import and sell illegally sourced plywood.
The scheme, which lasted for years, involved Boise Cascade purchasing plywood from Horizon Plywood, a company with ties to foreign bad actors. By doing so, they helped perpetuate a massive fraud that defrauded taxpayers of import duties and undercut law-abiding competitors.
‘Trade fraud is not a paperwork violation. It is theft from the American taxpayer and an attack on lawful American commerce,’ said US Attorney Jason A. Reding Quiñones for the Southern District of Florida. ‘Today’s guilty plea and sentence make clear that complicity in such schemes will not be tolerated.’
Boise Cascade will pay a $6,382,000 fine, representing twice the gross profits it derived from the illegal wood at issue in this case. The company will also implement a compliance plan to prevent similar schemes in the future.
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📋 Key Facts
- Crime: White Collar Crime
- Defendant: Florida
- Location: US
- Source: DOJ Press Release
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