Counterfeit Scam Uncovered: €50 Notes In Circulation

TWO couples who were at the heart of a scam using counterfeit notes have been arrested in Madrid.

A recent report from the National Police in Madrid detailed how they apprehended two couples for their involvement in a counterfeit currency scheme in which fake €50 notes were used in payments at shopping centres.

Unravelling The Scheme

The scam began to unravel in July when a manager of a clothing and accessories chain in Madrid noticed something was not quite right. An employee had colluded with a customer, accepting counterfeit currency for various clothing purchases.

Remarkably, the sales assistant, on her final day at work, bypassed usual protocols by using codes of other employees and not her own, accepting 19 fake notes, each purporting to be €50, totalling €950 in all.

Widespread Fraud Across Stores

The manager’s subsequent complaint revealed a broader scam. Two young men were identified, linked to the first incident, who returned items at other stores in the same chain.

The items were initially bought with counterfeit notes, allowing them to later exchange them for genuine currency. Through phone taps and surveillance, another couple was implicated, including the woman who made the initial purchase with the fake currency.

Arrests And Seizures

In a coordinated operation, the police arrested the two couples, in November 2023, in San Fernando and Vallecas. Alongside their arrest, authorities confiscated €950 in counterfeit €50 notes and four mobile devices.

The detainees now face charges of currency counterfeiting and fraud. All four suspects were brought to court with an order to surrender their passports as a precautionary measure.

This intricate plot showcases the lengths to which individuals will go to defraud and deceive, highlighting the ongoing challenge for law enforcement in tackling sophisticated financial scams.