facebook
twitter
rss
account
search
search
 

Mounties bust $4M counterfeit ring

June 6, 2008 at 3:24 PM   |   Comments

TORONTO, June 6 (UPI) -- The Royal Canadian Mounted Police broke up a $4 million counterfeit currency-producing operation near Toronto, the RCMP announced Friday.

A raid on a facility producing $20 bills was the largest seizure of fake currency in the last 20 years, the force said in a news release.

"We believe that the seizure occurred before any of the counterfeit banknotes, which were in various stages of production, had been distributed," the force said.

Inspector Brian Verheul said the investigation involved the Bank of Canada and York Regional Police, north of Toronto.

"Counterfeiting continues to destabilize Canada's economy," he said.

Two men, 24 and 26, face numerous federal charges.

The RCMP said counterfeit bills are typically sold to criminal distribution networks and ultimately passed to unsuspecting individuals, merchants and financial establishments.

Canadian currency has six security features including holograms, raised ink, and color shifts seen by tilting the bill, the Bank of Canada Web site says.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
American fighting with Kurds in Syria: Civilians burned in chemical attack American fighting with Kurds in Syria: Civilians burned in chemical attack
3
Texas cheer coach Ashley Zehnder faces sex charge for sleeping with a student and sending nude sexts Texas cheer coach Ashley Zehnder faces sex charge for sleeping with a student and sending nude sexts
4
Female gym teacher busted for repeated sex with student Female gym teacher busted for repeated sex with student
5
GOP Rep. Don Young tussles with students over same-sex marriage and suicide GOP Rep. Don Young tussles with students over same-sex marriage and suicide
Trending News
Around the Web
x
Feedback