Largest counterfeit money factory shut down in Surrey

cash made at home

RCMP are calling it the largest private mint ever found in B.C.’s history.

They say the factory that made fake currency was shut down with the help of the RCMP’s Commercial Crime Section. RCMP seized $220,000 in fake currency.

Tens of thousands of bills were printed and how many are in circulation is not clear but police have scheduled a press conference to show off the printing presses and other machinery used to run the most sophisticated and the largest cash factory ever set up by a gang of crooks.

Police said it was the “largest counterfeit currency lab take-down in BC’s history that took place in Surrey.”

They also said the factory manufactured both Canadian and U.S. currency.

“Counterfeit Enforcement Team investigators executed a search warrant in the 8600 block of 151B Avenue in Surrey and found $96,000 in fake American bills and $130,000 in fake Canadian bills, mostly 50′s and 100′s Also, during the execution of the search warrants computers and equipment used in the production of the counterfeit banknotes were seized,” said RCMP

Richard Thomas McGaw, 30, of Coquitlam and Jesko Stefan Lindt, 49,  from Surrey were arrested and charged for making and possessing counterfeit banknotes and for possessing instruments for making counterfeit banknotes. McGaw is also facing additional charges for breaching his bail conditions

The other two arrested, a 55-year-old male and 28-year-old female have been released on a promise to appear.

This is the largest seizure of this nature in B.C’s history. In 2008, British Columbia accounted for 9% of the total amount of counterfeit notes being passed across the country. According to Bank of Canada National Statistics, from February 2009 to March 2009, the $20 counterfeits increased by 24%, the $50′s increased by 19%, and the $100′s increased by 15%.

“I am confident that this counterfeit currency lab take down will significantly reduce the counterfeit banknotes in BC because these increases were predominantly linked back to Mr. McGaw and Mr. Lindt’s counterfeit operation. Overall, counterfeit banknotes have decreased in the last years as a result of increase in law enforcement seizures, public education and heightened retailer awareness,” said Sgt. Farahbakhchian, the Counterfeit Coordinator for the Federal Commercial Crime Section in BC.

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Posted by News Editor on May 21 2009. Filed under More News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry