Vietnam man arrested with 100 million in fake euros

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A man wanted for defrauding people out of billions of dong was arrested in Ho Chi Minh City Wednesday with counterfeit euro banknotes worth US$132.3 million, Vietnamnet reported Friday.

The arrest of Vu Van Chap, 42, came about one month after police in the central province of Binh Thuan issued a warrant for him on charges of "abusing trust to deprive others of their property," the newswire said.

Police said they found one million euro notes and VND29 million at Chap's dwelling in District 1.

Vietnamnet quoted police as saying that in 2009, Chap, who was then the director general of Binh Thuan Tourism Company, allegedly sold fake certifications of company stocks to several people. One of the victims claimed that he lost VND6.9 billion ($331,000).

Chap was taken to Binh Thuan on Thursday for questioning, it said.

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