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Police seize millions of fake banknotes
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Police in south China’s Guangdong Province have seized counterfeit 100-yuan banknotes valued at 210 million yuan (US$32.9million).
Police discovered the fake notes in an early morning raid last Thursday in Huizhou, following a nine-month investigation, according to the Guangzhou Daily newspaper.
Not a single note had entered the market, the province’s Public Security Bureau said yesterday, and 29 suspects had been detained.
Police said two workshops — in a hardware factory and a junk yard — were patrolled by guards and monitored by cameras around the clock.
They told the newspaper that the gang raised their work rate after finding out that a new version of the 100-yuan note was to be issued in November.
They said the ringleader was a man surnamed Zhu from Shanwei in Guangdong while forgers came from southwest China’s Sichuan Province.
Xinhua news agency said an average of 1,000 counterfeit banknote cases are uncovered each year in China, their value rising from 392 million yuan in 2012 to 532 million in 2014.
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