New York officials say a Manhattan jewelry wholesaler has admitted having 70 pounds of illegal elephant ivory as the state continues a crackdown on trade in products made from endangered and threatened species.
Department of Environmental Conservation Commissioner Joe Martens says Friday that Stonex Corp. pleaded guilty this week to felony illegal commercialization of wildlife and its owner admitted to the same offense as a misdemeanor.
Under the plea deal, Shashikumar Krishnaswamy will forfeit the ivory valued at about $30,000 and contribute $10,000 to the Wildlife Conservation Society to help protect elephants.
Two other Diamond District companies pleaded guilty last year to illegal ivory sales. So far, about $2 million worth of ivory has been seized.
It has been illegal to trade in ivory taken from Asian and African elephants since they were listed as endangered in the late 1970s.