Italian police arrest 13, seize 900,000 counterfeit notes worth more than 28 million

Last month, Italian police arrested more than a dozen suspected banknote counterfeiters after seizing more than 900,000 high-quality fakes with a value of more than 28 million euros (more than $42 million Cdn.).

According to a statement issued by police this November, the two alleged masterminds of the operation were from Naples and had a “long experience” in counterfeiting.

“During the investigation three underground printworks, including one in Romania, were discovered equipped with the machines and instruments needed to manufacture counterfeit notes,” police said in a statement. “More than 28 million euros in counterfeit notes were seized — 939,775 notes of 10, 20 and 50 euros — and 13 people were caught in the act and arrested.”

Police said the counterfeiters sought buildings and locations that wouldn’t arouse suspicion to their operation before setting up short-term production presses to produce counterfeit notes for about two weeks.

“During that time, they were able to print more than 15 million euros in counterfeit notes. Then they stopped the operation, and sometimes transferred the whole print shop to another building.”

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