JavaScript is off. Please enable to view full site.

Large-scale counterfeit money ring busted in southern Vietnam

Saturday, July 04, 2020, 16:59 GMT+7
Large-scale counterfeit money ring busted in southern Vietnam
Le Ngoc Hai (left) and Tran Anh Khoa, two men involved in a large-scale ring of making, storing and consuming counterfeit money in Dong Thap and Ba Ria - Vung Tau Provinces, are pictured in a collage of photos supplied by the police.

Police in the southern province of Ba Ria – Vung Tau have broken up a large-scale ring of making, storing and consuming counterfeit money that operates across several southern provinces and cities.

As many as 13 people involved in the ring have been prosecuted, of whom 12 have been arrested while a fugitive is being wanted, Colonel Le Ba Trung, head of the provincial Department of Police's security and investigation uni, said on Saturday.

All means to produce counterfeit money and nearly 400 illicit VND500,000 (US$21.6) banknotes about to enter circulation were also confiscated.

The ring was detected after police in Song Xoai Commune of Phu My Town caught red-handed Tran Anh Khoa, 28, and Huynh Thi Kim Ngoc, 25, using counterfeit money to purchase goods.

Scanning the couple on the spot, the officers discovered 200 counterfeit VND500,000 banknotes.

Khoa then confessed that he had bought the illegal banknotes online.

The provincial security and investigation police unit was able to identify the seller as Le Ngoc Hai, hailing from My An Town in Thap Muoi District in the Mekong Delta province of Dong Thap.

Exhibits of a case of large-scale making, storing and consuming counterfeit money in Dong Thap and Ba Ria - Vung Tau Provinces, are pictured in this photo. Photo: Quynh Giang / Tuoi Tre
Exhibits of a case of large-scale making, storing and consuming counterfeit money in Dong Thap and Ba Ria - Vung Tau Provinces, Vietnam. Photo: Quynh Giang / Tuoi Tre

Functional forces searched Hai’s residence in My An and seized many exhibits and equipment that he used to make the counterfeit money, including a computer, a color printer, a scanner and colorings.

Hai told the police that he came up with the idea of making counterfeit money earlier this year and went online to look up the methods.

He started making counterfeit money at his home in February and was able to produce more than 1,000 VND500,000 banknotes in the first ten days, which he sold for about VND130 million ($5,610).

Hai’s customers buy the counterfeit banknotes to resell to other people at the rate of VND1 million ($43) worth of real banknotes in exchange for VND2.5-5 million ($108-216) worth of fake bills.

The counterfeit money traders and consumers often carried out their transactions at grocery stores or gas stations at night.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News

More

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news