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A businessman accused of churning out hundreds of fake banknotes on his office photocopier is being hunted by police after jumping $3.5 million bail yesterday.

 Wong Wai-fong, 54, who has a master's degree in law, is alleged to have used counterfeit cash to place last-minute bets with the Jockey Club.

   He failed to appear for his High Court trial yesterday and a warrant for his arrest was issued by Mr Justice Frank Stock.

  A lawyer telephoned his home and was told Wong had left the address at 8 am.

  He faces six charges of possessing $232,000 in fake Hong Kong currency and 276,000 counterfeit Taiwanese dollars.

 When police raided the offices of Wong's jewellery business on October 8, 1994, they found a colour photocopier, stacks of bogus notes, watermark images and equipment associated with counterfeiting, the Crown claims. Wong was arrested outside and found with a briefcase containing fake notes, it is alleged.

     Police say the copier was used to make counterfeit cash from genuine notes. A lion's head had been drawn on silk screens, which were used to print the image on the notes along with security lines.

  Detective Senior Inspector Steve Berry said a probe was launched when bank staff spotted the fake notes. He believed all the counterfeit cash had been recovered.

    Wong, who is married and lives with his family in Kowloon, was granted bail last year. Strict conditions were imposed including a $2.5 million charge on his flat and the lodging of $1 million cash with the court.

  Anthony Mitchell-Heggs, defending, said Wong's mother died last week and he had failed to turn up for a conference with his lawyers on Tuesday.

  The case was adjourned.



Jeweller on fake banknote charges jumps $3.5m bail