XN000022-1993-02-26 — Page 11

.

9

FRIDAY, FEBRUARY 26, 1993

POLICE SMASH FORGED U.S. BANKNOTE SYNDICATE

POLICE HAVE MADE ONE OF ITS LARGEST SEIZURES OF COUNTERFEIT U.S. BANKNOTES DURING A JOINT OPERATION MOUNTED BY COMMERCIAL CRIME BUREAU (CCB), INDEPENDENT COMMISSION AGAINST CORRUPTION (ICAC) U.S. SECRET SERVICE.

AND

IT IS BELIEVED THAT A LOCALLY BASED FORGED U.S. BANKNOTE SYNDICATE HAVE BEEN SMASHED FOLLOWING THE ARRESTS OF 10 MALE SUSPECTS BY CCB AND THE SEIZURE OF COUNTERFEIT U.S. BANKNOTES WITH A FACE VALUE OF ABOUT U.S.$ 7 MILLION.

ACTING ON INFORMATION, OFFICERS FROM CCB BEGAN INVESTIGATIONS INTO A COUNTERFEIT U.S. BANKNOTE SYNDICATE IN SEPTEMBER, 1992.

OFFICERS WERE LATER INFORMED THAT OFFICERS OF ECAC WERE INVESTIGATING THE SAME SUSPECTS FOR ALLEGED CORRUPTION.

ALSO

BASED ON THE INFORMATION PROVIDED BY THE U.S. SECRET SERVICE IN EARLY FEBRUARY, OFFICERS OF CCB AND ICAC TOOK ACTION.

AROUND NOON YESTERDAY (THURSDAY} A JOINT CONDUCTED DURING WHICH OFFICERS FROM CCB RAIDED MORE THAN LOCATIONS OVER THE TERRITORY.

+

OPERATION

WAS

20

ABOUT 100 POLICE OFFICERS WERE DEPLOYED IN THE RAIDS WHICH ENDED ABOUT 4 AM THIS (FRIDAY) MORNING RESULTING

IN THE ARREST 10

OF

MALE SUSPECTS AND THE SEIZURE OF A LARGE QUANTITY OF FORGED U.S. BANKNOTES WITH A FACE VALUE OF ABOUT U.S.$ 7 MILLION.

THE RING LEADER OF THE SYNDICATE, ARRESTED DURING A RAID IN MONG KOK.

A 48-YEAR-OLD MAN,

WAS

POLICE ALSO SEIZED SOME PRINTING EQUIPMENT, SOME COPPER PLATES AND A QUANTITY OF SHREDDED COUNTERFEIT U.S. BANKNOTES.

THE SEIZED BANKNOTES WERE ALL IN THE NOMINAL VALUE OF $20

AND

$100.

AMONG THE ARRESTED MEN AGED BETWEEN 36 AND 67, ONE HAS RELEASED UNCONDITIONALLY WHILE THE OTHERS ARE STILL BEING DETAINED FOR BEEN

ENQUIRIES.

POLICE INVESTIGATIONS ARE PROCEEDING.

/10