News Chinese police seize fake cash worth $59 million

-

- Advertisment -

Chinese police seize fake cash worth $59 million

News Chinese police seize fake cash worth $59 million

Chinese police have seized counterfeit notes with a face value of 422 million yuan ($59 million) in the largest haul since the 1949 founding of the People’s Republic of China.

Chinese police have seized counterfeit notes with a face value of 422 million yuan ($59 million) in the largest haul since the 1949 founding of the People’s Republic of China.

Sixteen members of a counterfeiting ring spanning from southern Guangdong province to Heilongjiang province in China’s far northeast were arrested in a joint police operation, the Ministry of Public Security said in a statement Thursday.

None of the six tonnes of counterfeit currency ended up in circulation, it said.

Police also seized counterfeiting equipment and raw materials.

Physical currency is becoming obsolete throughout China as more and more consumers use mobile payment systems such as WeChat Pay and Alipay in daily life.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent Updates

DHQ: Scores of terrorists killed in massive airstrikes on hideouts in Borno

The Air Task Force of Operation Lafiya Dole under subsidiary ‘Operation Hail Storm 2’, has eliminated scores of terrorists...

Betis coach blames VAR in defeat to Real Madrid

The combination of Real Madrid and VAR was too much for Real Betis to contend with in Saturday’s 3-2...

Barcelona snubbed €150 million offer for youngster this summer

Barcelona reportedly turned down an offer of €125m, plus €25m in variables, for rising star Ansu Fati this summer.The...

Zinedine Zidane claims 100 La Liga wins as Real Madrid coach

Real Madrid’s win over Real Betis on Saturday was Zinedine Zidane’s 100th in charge of Real Madrid in La...
- Advertisement -

Israel Adesanya knocks out Paulo Costa to retain UFC middleweight title

Israel Adesanya delivered a perfect performance to knock out bitter rival Paulo Costa and retain his UFC middleweight championship.The...

Inter Milan hits two late goals to beat Fiorentina 4-3

Inter Milan fought back with two goals in the last five minutes as they began their Serie A campaign...
- Advertisement -

You might also likeRELATED
Recommended to you