Chinese Police Confiscate $20.57 Million in Counterfeit Notes in Guangdong Province
Posted on 8/26/2014
Police in Guangdong province in China raided three sites producing fake Chinese bank notes and seized more than 127 million yuan ($20.57 million U.S.) in counterfeit notes, according to a story on Ecns.cn, the English language website for China News Service.
Police also confiscated computers, film, scanners, plates and many incomplete bank notes in the July 31 raid.
This is the latest in a series of raids involving counterfeiting in Guangdong province since January 2014. In total, 57 suspects were detained as a result of the latest raid.
Guangdong is located about 90 miles north of Hong Kong on the coast of the South China Sea in the People’s Republic of China. The province, known in English as Canton, borders the Hong Kong and Macau special administrative regions.
The province has been the location of many previous raids for counterfeit notes and fake products. For example, in 2009, 90 million fake yuan notes were discovered.
The province was also in the news earlier in 2014 for arrests in connection with production and sale of fake medications. In 2012, about 1 million fake Hermès and Coach handbags were confiscated by Chinese police and U.S. Immigration and Customs Enforcement in a joint investigation.
This article was originally published in the August 15, 2014 issue of Coin World.
This is a guest article. The thoughts and opinions in the piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.