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Updated Friday, October 31, 2008 9:45 am TWN, The China Post news staff

Counterfeit NT$50 coin mint busted near Kaohsiung: CIB

KAOHSIUNG, Taiwan -- A make-shift mint was busted at Luzhu near Kaohsiung, with its operator arrested for forging NT$50 (US$1.53) coins, a spokesman for the Criminal Investigation Bureau (CIB) said yesterday.

He said the factory was raided Wednesday night. He identified the operator only by his family name of Lin. The 61-year-old suspect admitted he had been minting the bogus coins for over a decade, the CIB spokesman said. Altogether 500,000 fake coins, with a total face value of NT$25 million, have been circulated, the spokesman added. CIB agents seized a large number of finished and unfinished coins at the illegal mint.

The CIB spokesman said Lin was able to put the fake coins in circulation at groceries, convenience stores and supermarkets where there are no coin-verification machines.

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	A makeshift factory that specialized in counterfeiting NT$50 (US$1.53) coins for the past 10 years has been discovered and manufacturing stopped in the southern county of Kaohsiung, with its owner arrested, police announced yesterday. (CNA) Enlarge Photo


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