SHANWEI, Guangdong: Police in China have carried out the country's largest seizure of fake banknotes, local media reported.
Notes with a face value of 214 million yuan (US$33.2 million) were seized in China's Guangdong province and 14 suspects were arrested following a police investigation that began in March last year, the Southern Metropolis News reported on Tuesday (Jan 16).
Police had been looking into suspected counterfeiting in cities including Shanwei, Jieyang and Shenzhen, according to the paper.
Eight suspects were arrested in Shanwei and police seized 24 million yuan, the paper reported. A further 170 million yuan in counterfeit notes was subsequently seized.
A couple of days later, police arrested six more suspects in Zhongshan and seized semi-finished counterfeit notes worth 20.2 million yuan as well as machines and equipment.
None of the fake cash entered into circulation, according to the Southern Metropolis News. It added that the police were also urging members of the public to report such crimes.