Prosecutors Target BMW Buyers Seeking to Profit from Resales to ChinaDecember 3, 2013 – In The News
Ely Goldin was quoted in the ABA Journal article "Prosecutors Target BMW Buyers Seeking to Profit from Resales to China." While the full text can be found in the December 3, 2013, issue of ABA Journal, a synopsis is noted below.
Federal prosecutors have seized dozens of cars at ports and millions of dollars in related bank accounts in an attempt to halt private sales of BMWs to China, where the cars can bring in nearly three times their U.S. sticker price.
Ely Goldin, who represents someone whose cars were seized, says the government is involving itself in a matter that is, at most, a contract dispute between the car dealers and the exporters. “Why should a buyer of a car be prohibited from exporting a car after he paid top dollar for it?” said Goldin. “It’s called capitalism.”