The Bank Did Not Provide The Gucci And Other Luxury Brand Account Information To The United States.

So far, Gucci and other brands of Kai Yun group have filed a lawsuit against Alibaba on two occasions in the federal court of Manhattan, New York, saying that Alibaba helped the counterfeiters sell fake products worldwide when they knew the situation.

After the first prosecution in July 2014, the Alibaba and the pport group reached a settlement and withdrew the lawsuit.

But in May of this year, Kai Yun group also provided the market advertising and other necessary services with Alibaba as a fake manufacturer, and Alibaba continued to allow the sale of counterfeit goods to the court on the grounds that it was explicitly told the sale of counterfeit goods.

China's luxury goods report 2014 shows that Chinese consumers are experiencing serious outflow of luxury goods, and 76% of their consumption takes place overseas. At the same time, last year, traditional luxury brands faced huge pressure, slowing down and increasing inventory pressure.

As Gucci has accused, fake products hurt the interests of luxury brands, but for these brands, it is also very difficult to fight against counterfeit goods, especially the cost of obtaining evidence.

Bank of China was convicted of contempt of court yesterday by a federal court in the United States because the bank did not provide account information required by luxury brands such as Gucci.

Just last month, a court in New York issued an order requiring the Bank of China to submit a detailed account of the bank account of a counterfeit goods group made in China. In 2010, the gang was accused by the luxury brand Gucci of selling millions of dollars in counterfeit Gucci handbags and wallets in the US. Gucci also made a $12 million compensation to the US court.

But the Bank of China refused to cooperate, providing only a small part of the court's request.

It also believes that providing account information violates China's confidentiality law and is also an offence to China's sovereignty.

Back in 2010,

And other luxury brands to sue for allegations of forgery.

Products such as handbags and then sold on the US market.

Gucci believes that the counterfeiters pferred their illegal income to the Bank of China accounts by means of wire pfer, which means that if they want to know how many illegal income these counterfeiters obtain through making fake goods, and whether other criminals are involved, they must get the records of the bank.

Without the account information of the Bank of China, the Gucci litigation process will obviously slow down, and may end up without effect.

There are different views on whether the Bank of China should provide evidence.

According to The Associated Press, judge Richard Sullivan, who made the decision, believes that the Bank of China has four branches in the United States, and the US courts have jurisdiction over the Bank of China.

There are also judicial experts who believe that the Bank of China, which is required to submit the evidence, is located in China, only under the jurisdiction of the Chinese judiciary.