Chinese police made biggest counterfeit bust in country’s history since 1949

Beijing. January 18. Silkroadnews - Chinese police made biggest counterfeit bust in country’s history since 1949, the newspaper “People’s Daily” reported.
“Police seized fake bank notes with a total face value of more than 214 million yuan ($33.2 million) after cracking the biggest counterfeiting case in the nation’s modern history late last year,” the report said.
Lin Weixiong, deputy director general of the Guangdong Provincial Department of Public Security, said that 14 suspects believed to belong to a criminal group were detained and a significant number of blanks and printing equipment were seized during searches in the clandestine shop and warehouse on the case investigated as the country’s biggest counterfeiting case since the founding of New China in 1949.
Wu Yilai, deputy director of the Economic Crime Investigation Bureau’s provincial department, said that arrests and searches were a heavy blow for counterfeiters.
“Guangdong comes first in terms of both the incidence and the clearance rate of counterfeiting cases in the country. Big profits from counterfeiting have encouraged criminals to risk it,” the agency quoted Wu saying.
A fake banknote with a face value of 100 yuan are currently being sold illegally for 6 yuan, compared to 2-3 yuan about 3 years ago.
Reportedly, during 49 special operations in 2017, police detained more than 15,000 suspects and seized 16.4 metric tons of various types of drugs, 9 300 stolen mobile phones and other property across Guangdong.