CIB detains three on counterfeiting charges

MORE FAKE MONEY: Officials said they seized fake US$100 bills that contained the same misspelling as US$11.04 million in bills seized in December last year

Taipei Times
Date: Jul 04, 2020
By: Jason Pan / Staff reporter

Counterfeit US$100 banknotes seized by the Criminal Investigation Bureau are shown to the media in Taipei yesterday.
Photo: Huang Chia-ling, Taipei Times

Authorities have detained three people for their alleged involvement in counterfeiting US currency, the Criminal Investigation Bureau (CIB) said yesterday.

Two men, surnamed Lin (林) and Huang (黃), and a woman surnamed Tsai (蔡) in November 2018 allegedly sold fake US$100 bills to a man surnamed Chen (陳), who did business in Taiwan and Mongolia, CIB official Lai Yao-tsung (賴耀宗) said.

“Chen had heard of offers to exchange money at good rates, reportedly at a 75 percent discount for US currency. Thinking of profiting from the transaction, he bought from Tsai and Huang 3,000 US$100 bills for NT$6.5 million [US$219,528 at the current exchange rate] in cash,” Lai said.

Chen allegedly used his own counterfeit bill detector to screen the money at a face-to-face transaction, but a bank in Mongolia later detected the money as fake, so Chen returned to Taiwan with the counterfeit bills, the CIB said.    [FULL  STORY]

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