Counterfeit retail knockoffs cost New York billions in lost revenue.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2004 Daily News

Byline: Daniel Dunaief

Nov. 23--Fake Kate Spade bags, Burberry scarves and Timberland boots, among a host of other items, are costing the city and its businesses billions.

Indeed, counterfeiting cost city businesses $23 billion last year and at the same time deprived the city's own coffers of $1 billion in tax revenue, according to a new report from controller William Thompson. And the pace doesn't appear to have eased up this year.

That's enough money...

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