PERU: Police seize $20 million dollars worth of counterfeit dollars, euros and Peruvian soles in one of the biggest busts of counterfeit printing.

Record ID: 603193

  • Title: PERU: Police seize $20 million dollars worth of counterfeit dollars, euros and Peruvian soles in one of the biggest busts of counterfeit printing.
  • Date: 17th April 2013
  • Summary: LIMA, PERU (APRIL 17, 2013) (REUTERS) EXTERIOR OF PERUVIAN NATIONAL POLICE STATION POLICE OFFICER LAYING SHEETS OF COUNTERFEIT DOLLARS ON TABLE POLICE LOOKING AT SHEETS OF COUNTERFEIT MONEY (SOUNDBITE) (Spanish) CHIEF OF NATIONAL POLICE FRAUD DIVISION, SEGUNDO PORTOCARRERO, SAYING: "In terms of dollars, we've found around 15 million American dollars in 10, 20 and 100 dollar nominations. In terms of the local currency, about 10 million soles have been found." COUNTERFEIT $50 DOLLAR BILLS (SOUNDBITE) (Spanish) CHIEF OF NATIONAL POLICE FRAUD DIVISION, SEGUNDO PORTOCARRERO, SAYING: "These were sent primarily where the official currency is the Europe and the dollar and also to South American countries like Ecuador and Venezuela. Why Venezuela? In Venezuela the circulation of dollars is prohibited, but there is a black market." POLICE TAKING SHEETS OF FAKE BILLS FROM THE PRESENTATION
  • Embargoed: 2nd May 2013 13:00
  • Keywords:
  • Location: Peru
  • Country: Peru
  • Reuters ID: LVA4SUGOLYXKOFN7RMYE6KH5F7ZZ
  • Story Text: Peruvian police on Wednesday (April 17) said they seized $15 million dollars worth of counterfeit U.S. dollars in one of the biggest counterfeit printing busts ever seen in the South American country.

    "In terms of dollars, we've found around 15 million American dollars in 10, 20 and 100 dollar nominations. In terms of the local currency, about 10 million soles ($3.9 million dollars) have been found," the chief of the National Police's fraud unit, Segundo Portocarrero said.
    In addition to the counterfeit greenback and the local soles, police said fake euros were also found amounting to about 1 million in the European common currency or about $1.3 million dollars worth.
    Portocarrero said the fake bills were awaiting shipment to the United States and other countries including Spain, Italy, France, Argentina and Venezuela where they would then have been put into circulation.

    "These were sent primarily where the official currency is the euro and the dollar and also to South American countries like Ecuador and Venezuela. Why Venezuela? In Venezuela the circulation of dollars is prohibited, but there is a black market," the police chief said.
    Authorities said they believed the fake money confiscated had been printed over the period of about a month and a half and that the operation had been running for more than a year leading them to believe that millions in fake cash produced here was already circulating the globe.
    Two people, identified as Roberto Torres and Wilfredo Cobos, were arrested in the raid of the facility in Lima on Tuesday (April 16).
    Police said they advised law enforcement agencies in Spain, France and Italy, where three of Cobos' brothers are thought to be awaiting a shipment of the bills in order to circulate them in the European countries.
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