-Caveat Lector-
Sent: Tuesday, January 16, 2001 12:15 AM
Subject: Counterfeit Ring Busted in Colombia
> {{Be sure to note the last paragraph concerning the $1
> billion possibly printed prior to November then ask
yourself
> how this would effect inflation. AKE}}
>
> Counterfeit Ring Busted in Colombia
>
>
> Updated 9:10 PM ET January 15, 2001
> BOGOTA, Colombia (AP) - Investigators captured two alleged
> counterfeiters and seized $2.5 million in phony U.S.
> dollars, Colombia's secret police said Monday.
> Police arrested the suspects Wednesday in Cali carrying
> $500,000 in counterfeit bills, said German Jaramillo,
> director of the state security agency Monday. Agents later
> found $2 million in fake dollars inside one of their
> apartments.
>
> The security agency said the two Colombian men are
believed
> to be working with five U.S. citizens arrested Saturday in
> Miami and Los Angeles.
>
> About $22 million in Colombian-made counterfeit U.S.
dollars
> have been seized in the United States since 1985,
according
> to U.S. government figures.
>
> The illegal business is expanding just as two Latin
American
> countries, Ecuador and El Salvador, have moved recently to
> make the dollar their official currency.
>
> Authorities in November dismantled the largest
> counterfeiting factory ever found in Colombia. Carved into
a
> mountainside, police say the factory may have printed as
> much as dlrs 1 billion in phony money before it was
> discovered.
>
>
>
>
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