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Major Dollar-Counterfeiting Ring Busted In Daghestan

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The Russian Interior Ministry has announced the arrest of the largest group of counterfeiters of U.S. dollars to be caught in years.

The ministry’s press service announced on November 12 that the Russian Directorate for Economic Crimes apprehended the group in the North Caucasus republic of Daghestan.

The operation was carried out in two phases -- in July and this month.

Authorties seized about $400,000 in forged currency, sophisticated equipment, and special paper used for forging the banknotes.

Police also confiscated a number of guns and ammunition from the group.

The number of members in the counterfeiting ring was not given in the announcement.

Based on reporting by Interfax and ITAR-TASS