Three others (Andreina Becerra, Rosario LaMarca and Roberto Volpe) working with Li have already pleaded guilty. The group tried hard to disguise their activities, according to the Justice Department -- they shipped the counterfeit labels separate from the devices to avoid border control, and used carefully crafted money deposits and transfers to hide the source of the ill-gotten revenue.

Li faces sentencing on May 30th.

These sorts of operations are common worldwide, but it's not often that relatively large counterfeiters are caught in the US. Not that this is likely to be last, either. Counterfeit electronics often cost so much less than the real deal (particularly with newer Apple gadgets) that they may seem like a bargain even at a steep markup. In short, they're tempting options for anyone hoping to make a quick buck in counterfeits with little effort.