Euro Counterfeit Ring That Circulated Fake Banknotes from Italy to Spain Busted
The Spanish National Police (Policía Nacional), with support from Europol arrested seven individuals and dismantled a criminal network suspected of distributing counterfeit banknotes in Spain which were produced in Italy. It is estimated that the network distributed €30 000 in €20 and €50 counterfeit banknotes in Spain.
The investigation began in 2019 when the Spanish officers detected two women using fake banknotes in small shops in Madrid. Both women were in touch with a man who also lived in the Spanish capital and supplied them with the fake currency. The course of the investigation led the officers to learn that the supplier had a meeting with another man residing in the city of Vigo, who travelled to Madrid to acquire €15 000 in counterfeit banknotes. The transnational character of the organisation was made obvious when numerous money transfers were uncovered in different locations, some of which near the Italian city of Naples.
During the action day, the main suspect was arrested carrying 30 fake banknotes in €20 note denomination. Following his arrest, the officers carried out a search of his house and arrested other of counterfeiters: six individuals were detained in Madrid and one in Vigo.