Eight arrested over fake money

RWAMAGANA – Police have arrested eight people for allegedly circulating counterfeit currency and seized several thousand worth of fake Rwandan francs in different denominations.During a routine operation, on Wednesday, police found seven youngsters and an elderly man with fake money.Police found counterfeit notes of 2000, 1000 and 5000 denominations in the suspects’ procession and took them into custody.The suspects, who include one Burundian national from Muyinga Province, are currently held at Rwamagana Police Station pending further investigations.Speaking from the police post, the suspects confessed that they had made the counterfeit currency with the help of an accomplice who stays in Kigali.“We were told that we could even get US dollars…I paid Rwf250,000 as they promised to get me huge profits. They made some demonstrations before us, a technician is behind all this,” said one suspect.“I use a scanner to make the money…it is a simple operation provided you have the right paper and tools. I have been doing this for at least one year,” admitted the prime suspect.Police said the suspects will be charged with counterfeiting, forgery, money laundering and operating an illegal enterprise.Supt Theos Badege, the police spokesman, said the suspects were involved in serious crimes, adding that the national legal tender must be protected.Article 601 of the Penal Code says that any person, who fraudulently counterfeits, falsifies or alters coins, which are legal tender in Rwanda, shall be liable to a term of imprisonment of 5 years to 7 years.“The cases are still few…but people and financial institutions must be vigilant in their transactions,” he said.Residents who talked to The New Times said fake money was becoming an issue.“Fake notes are in circulation; the bad thing is that it’s not easy to identify them, especially at night. The money is used in busy areas like bars and restaurants…I was given fake notes as balance in a bar. We need a serious crack down,” said one, Frederiko Kayibanda.

National

Eight arrested over fake money