German police hail Lithuaniafor cracking forgery ring

8th November 2004, Comments 0 comments

8 November 2004 , WIESBADEN - German police hailed their Lithuanian counterparts Monday for arresting a gang of forgers who have passed off counterfeit bank notes with a face value of nearly EUR 10 million on unsuspecting Europeans. The high-quality EUR 100 forgeries first showed up last year, leading to a multinational police hunt for the culprits. Germany's BKA federal police said that when Lithuanian officers entered the forgers' den in Kaunas on Saturday, they found the printing press, the plates and n

8 November 2004

WIESBADEN - German police hailed their Lithuanian counterparts Monday for arresting a gang of forgers who have passed off counterfeit bank notes with a face value of nearly EUR 10 million on unsuspecting Europeans.

The high-quality EUR 100 forgeries first showed up last year, leading to a multinational police hunt for the culprits.

Germany's BKA federal police said that when Lithuanian officers entered the forgers' den in Kaunas on Saturday, they found the printing press, the plates and neatly packed EUR 100 fakes with a face value of EUR 9 million. They arrested 13 men.

It was one of the biggest hoards of euro fakes ever to be captured before they could go into circulation.

The fakes began showing up in January 2003, when a team of runners, mostly Lithuanians, began spending the money on small purchases in supermarkets and petrol stations in western Europe to obtain larger sums of change.

By this year, the Lithuanian fakes were the commonest euro forgeries in Germany. So far, 95,000 have been taken out of circulation, one third of them in Germany. Under German law, the person in possession loses the note without compensation.

DPA

Subject: German news

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