WASHINGTON (CNN) -- Three Chinese nationals accused of importing thousands of counterfeit luxury handbags in the United States have been arrested in the past two days, federal authorities announced Thursday.

Shoppers sort through counterfeit brand name luxury bags and wallets on a Hong Kong street.

"This was a sophisticated criminal conspiracy that trafficked millions of dollars of counterfeit goods from China, profiting off the backs of legitimate companies and their hard-working employees," said Assistant Attorney General Alice Fisher.

Authorities call it one of the largest counterfeit operations ever discovered, involving about 300,000 bags and wallets with names like Burberry, Gucci and Coach.

For customers who bought the knockoffs, it seemed like a deal.

They paid a total of about $16 million for what would have been more than $100 million in handbags, purses and wallets in legitimate retail sales.

The alleged leaders of the counterfeit operations are three Chinese citizens living in New York.

Chong Lam, 49, and Joyce Chan, 39, were arrested there Wednesday. Eric Yuen, 39, was arrested Thursday in Las Vegas, Nevada. Immigration and Customs Enforcement agents who made the arrests began investigating the alleged scheme five years ago, after raids turned up counterfeit goods.

The indictment was secretly returned in Richmond, Virginia, in October. The charges were unsealed when the alleged conspirators were taken into custody. Authorities seized and froze 29 bank accounts and three New York properties.

The Chinese defendants will be taken to Richmond, where they will be arraigned at a later date, officials said. E-mail to a friend
Who was responsible for the counterfeiting? Who called it one of the largest operations? What was allegedly involved in the counterfeit operation. Who was living in New York? what items were counterfitted? What city do the (alleged) leaders live in? What number of bags and wallets were involved? What are authorities calling it? Who are the leaders? What was being counterfeited? Who profited off the backs of legitimate companies? Who did the Scheme profit off? What did the scheme profit off? What source stated that the counterfeit operation  profited "off the backs of legitimate companies"? Who are the alleged leaders involved with the counterfeit operation? Which companies were involved? who led the counterfitting operation? Where do the threes Chinese citizens live? What kind of illegal operation was discovered? what number of items were counterfitted? Who called it one of the largest counterfeit operations ever discovered? What are the names of the three Chinese citizens who are living in New York, and are considered the alleged leaders of the counterfeit operation?are  living in New York? counterfeit what? Where are the chinese citizens living? What kind of operation? What did authorities call it? What are authorities saying? How many bags and wallets were involved? What sort of consumer goods were being illegally made? What kind of operation do authorities say it is one of the largest? Where do the leaders of the scheme live? Where did the leaders live? Who led the counterfeit operation? What did the official say? What did the scheme profit off of?
Three Chinese nationals
Authorities
three Chinese citizens
The alleged leaders of the counterfeit operations are three Chinese citizens
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New York.
300,000
sophisticated criminal conspiracy
Chong Lam,
luxury handbags
Three Chinese nationals
the backs of legitimate companies and their hard-working employees,"
the backs of legitimate companies
Assistant Attorney General Alice Fisher.
Joyce Chan,
Burberry, Gucci
three Chinese citizens
New York.
importing thousands of counterfeit luxury handbags
300,000 bags and wallets
Authorities
Joyce Chan,
brand name luxury bags and wallets
New York.
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one of the largest counterfeit operations ever discovered,
call it one of the largest counterfeit operations ever discovered, involving about 300,000 bags and wallets with names like Burberry, Gucci and Coach.
300,000
counterfeit luxury handbags
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New York.
New York.
three Chinese citizens
The Chinese defendants will be taken to Richmond, where they will be arraigned at a later date,
the backs of legitimate companies and their hard-working employees,"
Authorities call it one of the largest counterfeit operations ever discovered .
Official: Scheme profited "off the backs of legitimate companies"
Counterfeit operation allegedly involved 300,000 high-end bags and wallets .
The alleged leaders are three Chinese citizens living in New York .