Selangor police scored a major success when they busted a counterfeit money syndicate that had been active since last year following the arrest of six suspects including the mastermind in three raids yesterday.
He said the raids netted counterfeit RM100 and RM20 notes worth RM12,540 and three sets of counterfeiting equipment.
“They were caught red-handed printing the counterfeit notes during the raids. The suspects moved from budget hotel to budget hotel to escape detection. It is estimated that they can produce counterfeit notes worth RM10,000 a day.
“The modus operandi of this syndicate is that after they print the counterfeit notes, they will sell to agents or middlemen who use them to buy goods at night and wet markets around the Klang Valley,” he told a media conference here today.
He said the suspects, four men and two women, aged between 20 and 40 years, would be remanded till Monday May 29 to facilitate investigations and that police were hunting down the agents and middlemen involved.
He added that the syndicate’s activities came to light after traders at the markets and banks lodged complaints on the circulation of the counterfeit notes.
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