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