Man arrested for making fake ‘Euro notes’ worth crores – World

The European Union’s law enforcement agency Europol says it arrested a man in Naples, Italy, last week on suspicion of producing counterfeit euro notes worth about 11 million euros ($12 million). is

Europol officials said that the suspect had sold counterfeit notes worth around eight million euros across Europe before his arrest. The identity of the accused has not been disclosed by the police due to legal reasons.

According to the police, most of the fake notes were used in the French market, while notes worth three million euros were found in a lab-made state at the time of the raid.

According to the police, the accused used to prepare notes in a “bunker-like laboratory”.

Police officials say that in 2023, 27 percent of the fake notes seized were the same accused.

The accused had set up a fake note manufacturing laboratory behind a garage and a sliding door. Europol carried out the raid with the help of Italian police, and police officials were surprised to find “modern printing equipment” there.

Europol officials said they found an “almost industrial production line” there, including 31 digital printing machines, and a “vast amount” of raw materials.

Expert analysis and an assessment by the European Central Bank confirmed that the special symbols (such as holograms) on the counterfeit banknotes were of extremely high quality, according to a statement released.

Europol also made arrests in Barcelona, ​​Rome and Naples before reaching the main suspect. In March this year, police arrested 14 people in Barcelona, ​​Rome and Naples, who were responsible for distributing fake notes worth one million euros in the market.

According to the authorities, these notes were of such good quality that even ATM machines and other devices could not detect the fakeness of these notes.

German authorities also removed 56,000 counterfeit banknotes worth more than five million from the market in 2023.