Chinese police crack banknote counterfeiting ring

Updated 2018-01-19 09:51:03 Xinhua

Police show incomplete and finished counterfeit money seized in raids in five cities – Shanwei, Zhongshan, Guangzhou, Shaoguan and Jieyang - of South China's Guangdong Province, Jan. 16, 2017.

Police in south China's Guangdong Province have cracked a banknote counterfeiting gang, seizing 14 suspects, local authorities said.

Police netted fake banknotes with a face value of 214 million yuan (around 33 million U.S. dollars), raiding a money-making plant and a storage house, according to the Guangdong Public Security Department.

The investigation began last March when officers obtained information about the counterfeiting ring. Eight suspects were caught in a raid in Shanwei City for allegedly trading fake banknotes with a face value of 24 million yuan.

The police later raided a storage house for fake money and found counterfeit notes worth 170 million yuan. Another six suspects were caught in a flat in Zhongshan City, where police seized semi-finished fake banknotes with a value of 20.25 million yuan.

"We've caught all suspects in the ring and stopped the fake notes from circulating on the market," said a police officer with the department.

Guangdong police are encouraging the public to provide information about counterfeit banknotes. Police will offer a reward for any information leading to the arrest of suspects.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 24 2018 19:21:54

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 24 2018 19:21:54

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 24 2018 19:21:54

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords