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Man forged 70m yuan bank certificate, police say

A MAN has been accused of forging a 70 million yuan (US$11.4 million) certificate on deposit, which he used to repay his wife, police said yesterday.

A clerk questioned the certificate in July when the wife went to a bank in Sanlin Town in the Pudong New Area and tried to use it to withdraw 2,000 yuan and transfer the rest to another bank branch.

The staff called police after the certificate was determined to be a likely fake. The woman was then taken to a local police station. She said the certificate was a repayment from her husband and the denomination was supposed to be 7,000 yuan.

Police soon found her husband, surnamed Zhang, a migrant worker who borrowed 6,000 yuan from his wife in 2007 and promised to pay back 7,000 yuan the next year.

Unable to fulfill his promise, he purchased the fake certificate from a street peddler, police said. The couple said they didn't notice the forger made it for 70 million yuan instead of 7,000 yuan.

Zhang has posted bail and has had his liberty of movement restricted as he awaits trial. Charges include forgery and altering a financial instrument.



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