Paper Money

Peruvian authorities seize counterfeit Federal Reserve notes

Counterfeit $20 Federal Reserve notes were recently confiscated by Peru’s National Police in a raid against a counterfeiting gang, Dec. 2 news reports said.

Images courtesy of Andina.

Peru, long described by authorities as the home of the most prolific counterfeiters of United States currency, is back in the news after a period of quiet.

Andina, Peru News Agency, revealed on Dec. 2 that the country’s National Police seized over $6 million worth of mostly $10 and $20 Federal Reserve note counterfeits that were the work of a gang known as “Los Especialistas” (The Specialists). The raid was conducted at a building located in Lima’s Carabayllo district.

The fake money was intended to be exported north to Ecuador and south to Bolivia, from where Lima Police Region Chief General Jorge Luis Angulo said they would be introduced into worldwide commercial markets.

The raid and arrest of Julio Montenegro Albino (aka Pepe) for crimes against the financial and monetary order, was the result of a long investigation. The bills were seized in a building in the Carabayallo district in Lima’s northeast.

The machine used for printing the counterfeit notes was found in a second raid in the Breña district in the central part of the city. Also confiscated were printing plates, lithography films, and a computer.

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