Counterfeit VND200,000 notes seized Tuesday by the Hanoi police from two men who claimed they bought them in China
Police in Hanoi Tuesday arrested two men for allegedly possessing fake currency bills worth around VND300 million (US$14,400) they bought in China.
Hoang Van Cuong, 31, and Bui Van Dung, 32, both from Lang Son Province on the China border, were caught at a Hanoi gas station with 300 VND500,000 notes and 750 VND200,000 bills.
The notes were supplied by a man in China through a Vietnamese intermediary, they said.
They paid VND25,000 for a VND100,000 bill, and would get double the price in Hanoi.
A police officer said the ring seemed pan-national and well organized.
An investigation has been launched and the police are looking to see if more people are involved.
The police have busted several fake money gangs around the country this year, each involving forged bills worth around $20,000. One operation discovered last month was run by a banker in Bac Lieu Province in the Mekong Delta.
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