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23/11/2006
Forgery gang jailed
Nine members of a gang who produced the largest ever amount of fake bank notes have been jailed.
The gang produced £14 million in fake bank notes. According to reports, more than 700,000 bogus £20 notes and over 27,000 fake 50 Euro notes were recovered by Bank of England officials. However, it is believed that millions more bogus notes are still in circulation.
Nine members of the gang were jailed at Snaresbrook Crown Court in London on Thursday.
Terrence Riefe, 55, from Cheshunt in Hertfordshire, who is understood to be the head of the gang, was jailed for seven years.
The operation, which also involved four generations from the one family, was run from a small back-street printing studio and is believed to be the largest ever counterfeit operation encountered in England.
Police began a surveillance operation in August last year, which culminated in raids on 20 premises in Essex and London four months later.
(KMcA)
The gang produced £14 million in fake bank notes. According to reports, more than 700,000 bogus £20 notes and over 27,000 fake 50 Euro notes were recovered by Bank of England officials. However, it is believed that millions more bogus notes are still in circulation.
Nine members of the gang were jailed at Snaresbrook Crown Court in London on Thursday.
Terrence Riefe, 55, from Cheshunt in Hertfordshire, who is understood to be the head of the gang, was jailed for seven years.
The operation, which also involved four generations from the one family, was run from a small back-street printing studio and is believed to be the largest ever counterfeit operation encountered in England.
Police began a surveillance operation in August last year, which culminated in raids on 20 premises in Essex and London four months later.
(KMcA)
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