Tens of thousands of fake luxury watches with a street value of $1.5 million have been seized and a major U.S. watch-counterfeiting ring dismantled following raids and federal court actions, including a $4.8 million penalty, all prompted by a Cartier investigation. The watch-counterfeiting ring, involving several companies in New York's Chinatown section, is one of the biggest ever broken in the United States. The penalty, issued April 15, is believed to be the largest contempt-of-court judgment ever levied in a U.S. trademark case. The federal court also was expected to issue a multimillion-dollar damages award to Cartier and associated watch brands affected by the counterfeits by early summer. According to Marc Frisanco, counsel for protection of intellectual property rights for Richemont International, the Swiss luxury group that owns Cartier, the companies involved allegedly were

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