The definition of parallel import in Wikipedia is a non-counterfeit product imported from another country without the permission of the intellectual property owner.
After a week-long investigation with the help of the Motion Picture Association, Customs raided four retail shops in Mong Kok and Causeway Bay selling fake parallel-imported disks worth 1.15 million dollar and six people were arrested, on October 15, 2007, Customs and Excise Department of the Hong Kong government reports here.
A case of counterfeit "non-counterfeit product imported from another country without the permission of the intellectual property owner" so to say.
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