A staff member arranges stacks of Chinese yuan banknotes at a bank in Nantong, Jiangsu province. Photo: Reuters
A staff member arranges stacks of Chinese yuan banknotes at a bank in Nantong, Jiangsu province. Photo: Reuters

China denies ‘despicable’ banknote forgery worth US$314 billion as alleged scam goes viral

  • Chen Yaoming, a board director of the China Banknote Printing and Minting Corporation, turned himself in to authorities earlier this month
  • His detention started trending online on Wednesday amid rumours he had privately minted 2 trillion yuan (US$314 billion) of banknotes

Topic |   Central banks
A staff member arranges stacks of Chinese yuan banknotes at a bank in Nantong, Jiangsu province. Photo: Reuters
A staff member arranges stacks of Chinese yuan banknotes at a bank in Nantong, Jiangsu province. Photo: Reuters
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