Beijing bites
China Daily | Updated: 2009-10-23 08:47
Counterfeit money group sentenced
Five people are facing jail time for trading 3.9 million in counterfeit yuan notes. Beijing No 2 Intermediate Court sentenced the five to prison terms ranging from three years to 15 years, the Beijing Times reported yesterday.
The group of five, led by a man named Yu Fangyou, bought 100-yuan fake notes at 3.3 yuan per note, authorities said. Since 2007, they sold the notes at around 6 yuan apiece. Police caught Yu on June 2, 2008. His team members were apprehended shortly after his arrest.
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