North Korean agent accused of bringing US$5m in fake banknotes into China
Agent brought the cash into Dandong to buy household goods and appliances, South Korean newspaper says
A North Korean agent was arrested earlier this month in China for distributing counterfeit US currency, a Seoul daily reported on Thursday.
The agent, captured by Chinese officials in the border city of Dandong in Liaoning province, brought US$5 million in fake bills into China from North Korea in order to purchase household goods and home appliances, the Joongang Ilbo reported, citing a source familiar with relations between China and North Korea.
The goods were supposedly distributed to the North Korean people during the April 15 celebration of the birthday of the country’s late founder, Kim Il-sung, as well as during its ruling Workers’ Party’s seventh congress held in early May, the first in nearly four decades, the report said.
“The US$5 million was exchanged at the Industrial and Commercial Bank of China and the Agricultural Bank of China for some 30 million yuan [HK$35 million] and then deposited,” the source was quoted as saying.
“But a number of the notes were found to be counterfeit US$100 bills when they were run through the banknote counter by a bank employee, so the Chinese authorities ordered the relevant account be frozen and arrested the North Korean agent,” the source added.
