Money forgery racket busted after raids in Patra, Athens

Police have prevented a forgery racket from dumping an estimated 1.8 million euros of bogus banknotes into circulation after raids in the western port of Patra and central Athens.

In an announcement on Thursday, the Greek Police (ELAS) said that investigators got onto the trail of the racket after arresting two suspects, Cameroonian nationals aged 34 and 37, in Patra last week after they allegedly tried to do a shady deal with a local businessman using phony notes.

The businessman reported the incident, prompting a raid on the suspects' hotel room, where officers found around 70,000 euros in forged bills and other evidence.

The suspects' Athens home, in Patissia, was raided on Tuesday, yielding hundreds of fake notes, printers and stacks of paper cut to the size of various banknotes, among others, ELAS said.