NEWARK, New Jersey — U.S. Immigration and Customs Enforcement (ICE) officers in Newark have taken Indian national Monishkumar Kirankumar Doshi Shah into immigration custody following his release from federal prison, where he served a 30-month sentence for his role in a multimillion-dollar international jewelry customs fraud and unlicensed money-transmitting scheme.
According to ICE Newark and federal court records, Shah was arrested by immigration authorities on August 5, 2026, after completing his federal prison sentence. The case involved business operations and financial transactions spanning New Jersey, New York, India and South Korea.
Shah, who has been identified as being from Mumbai, India, and Jersey City, New Jersey, previously pleaded guilty in federal court in Newark to conspiracy to commit wire fraud and operating and aiding and abetting an unlicensed money-transmitting business. In January 2025, U.S. District Judge Esther Salas sentenced him to 30 months in federal prison, followed by two years of supervised release.
Federal prosecutors said Shah operated several jewelry companies in New York City’s Diamond District, including MKore LLC, MKore USA Inc. and Vruman Corp. Authorities alleged that between December 2019 and April 2022, he participated in a scheme designed to avoid U.S. customs duties on approximately $13.5 million worth of jewelry imported from India and Turkey.
According to the U.S. Department of Justice, jewelry shipments were routed through South Korea, where labels were allegedly changed to make the goods appear to originate there before being shipped to the United States. Prosecutors said false invoices and packing lists were also prepared, while a third-party shipping company was instructed to provide false information to U.S. Customs and Border Protection about the jewelry’s country of origin. The scheme allegedly avoided an applicable customs duty of approximately 5.5 percent.
The financial component of the case was also substantial. Prosecutors said Shah’s companies were used to process more than $10.3 million in financial transactions for customers through an unlicensed money-transmitting operation, including converting cash into checks and wire transfers. Authorities said some transactions involved hundreds of thousands of dollars in a single day, while the businesses were not registered as required with New York, New Jersey or the Financial Crimes Enforcement Network (FinCEN).
As part of his criminal sentence, Shah was ordered to pay $742,500 in restitution to U.S. Customs and Border Protection and forfeit $11,126,982.33 connected to the wire-fraud and unlicensed money-transmitting schemes.
The investigation involved multiple agencies, including the Internal Revenue Service’s Criminal Investigation division, Homeland Security Investigations and U.S. Customs and Border Protection, with cooperation from authorities in the United States and South Korea.
His latest arrest marks a transition from the criminal case to the immigration-enforcement process. ICE has taken Shah into immigration custody after completion of his prison sentence. Details concerning his current detention location and the status of any removal proceedings have not been publicly disclosed in the sources reviewed.
The case also highlights how federal authorities can continue to scrutinize the immigration status of non-U.S. citizens after completion of a criminal sentence, particularly when serious federal convictions are involved.
It is important to distinguish the conduct described in the court records as the actions of the individual involved and any alleged co-conspirators, rather than attributing criminal conduct to the broader Indian or South Asian business community. The overwhelming majority of immigrant-owned businesses operate lawfully and have no connection to this case.