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Guangdong police smash 3 cash counterfeit gangs
( 2003-09-25 01:01) (China Daily)

Guangdong police have smashed three secret fake banknote production facilities in the cities of Dongguan, Shenzhen and Guangzhou since September 15 as part of a major law-enforcement crackdown here.

A total of 17 suspects, including bosses, technicians, foremen and workers, have been detained for additional questioning in the effort, known as "The Autumn Battle.''

Finished and semi-finished counterfeit banknotes in denominations of more than 60 million yuan (US$7.23 million) were seized in the three locations.

And film, cutting machines and printing equipment were also confiscated.

The crackdown on the three fake banknote production bases are a severe blow to the province's organized economic criminals.

"The Autumn Battle'' was launched on September 15 in Guangdong Province, a Guangdong Provincial Bureau of Public Security official said yesterday.

The special campaign hopes to bring the province's economic crimes under control and will last three months, the official said.

On September 18, Guangzhou Municipal Bureau of Public Security organized 20 officers to destroy a fake banknote production base in the city's Shatailu.

Police detained nine suspects and seized fake banknotes valued at 7.9 million yuan (US$951,807.23) from the facility located in a residence.

The underground production base is thought to have produced counterfeit banknotes worth more than 20 million (US$2.41 million) since it started operating in May of 2003.

And on September 15, police from Dongguan and Shenzhen cracked down two secret fake production bases in Chang'an Town and Longhua Town respectively after they received tips from local residents.

Eight suspects, including four from outside Guangdong Province, were arrested.

Notes worth more than 40 million yuan (US$4.82 million) and production equipment was seized in the two locations situated in a local warehouse and a processing company.

Despite the achievements, officials said Guangdong police will continue the crackdown with efforts focused on cases including organized crimes and criminal gangs.

Priority will be given to cracking down fake value-added invoices, tax evasion, pyramid sales, fraud, contract swindles, illegal trading of foreign currencies, production of counterfeit cigarettes and banknotes.

"These economic crimes are now active in Guangdong and are affecting the province's normal economic operation, particularly normal operation of the province's financial industry,'' an official said.

Guangdong police have investigated more than 2,100 economic cases in the first eight months this year.

And a total of 3,030 suspects have been detained.

Economic losses valued at more than 150 million yuan (US$18.1 million) have been recovered by the province between January and August of this year.

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