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A London crime gang has been jailed for producing more than a quarter of a million pounds of fake bank notes.
The gang had put together a system to produce replica £20 and £50 notes, which it is believed were then used in shops and bars across the Capital.
The Bank of England has since removed £260,000 of counterfeit notes from circulation which have been forensically linked to the gang.
The gang were halted after an investigation by detectives from City of London Police, supported by SOCA and the Bank of England.
Seven people were arrested and charged, before ultimately appearing for sentencing at the Old Bailey on December 15.
The court heard how the gang were capable of producing millions of pounds-worth of counterfeit currency, and had also discussed printing fake Olympic tickets.
Anthony Higgs was the mastermind behind the counterfeiting, and pleaded guilty to both producing and delivering the fake notes. He had put together a skilled gang of accomplices:
Three of the gang, Higgs, Daniels and Richard McCleave, had been jailed in 2007 following an earlier City of London Police investigation into counterfeit currency.
Higgs received a five year sentence, and had been released from jail on licence just six weeks when he began reoffending. As well as being jailed for eight years today, he will be subject to a detailed Serious Crime Prevention Order that includes restrictions on him owning a colour printer, paper larger than A4 or carrying more than £1,000 in cash.
Det Insp Doug Blackwood, who led the investigation, said: “These criminals were part of a carefully planned enterprise targeting significant profits. They may have all played differing roles, but they were united by their criminality and their appearance in the court dock today.
“Higgs’ audacity in returning to a crime he had been jailed for, just weeks after being released, clearly demonstrates his disregard for the law and determination to continue a criminal career. The sentence handed to him, combined with the restrictions that will apply once he’s released, should ensure that career has finally come to a close.”
Commander Ian Dyson, the national ACPO lead for counterfeit currency, said: “Counterfeit currency is a crime that directly harms the UK economic wellbeing, by illegally adding to the money supply and by damaging consumer confidence in Sterling. Had this gang been able to produce the millions of pounds of fake currency they were capable of, it could have had a corrosive impact on UK plc.
“The police work hard to ensure that repeat offenders cannot undermine our economy in this way. Higgs was quickly arrested, and it is pleasing to see the authorities have put in place such strong restrictions to prevent this convicted offender repeating his crime.”
Following today’s sentencing, Chris Salmon, the Bank’s Chief Cashier said: “We welcome today’s outcome, and applaud the work of the police, SOCA and the Bank of England in bringing this case to a successful conclusion. Maintaining the public’s trust in our banknotes is a key role for the Bank and it is essential if the economy is to function properly.
“The public should be aware that the number of counterfeits identified is very low when compared with the number of genuine notes in circulation. In 2010, counterfeit banknotes made up just a fraction of 1 per cent of all genuine banknotes in circulation.
“We encourage the public to ensure they always check several of the security features on banknotes, in order to ensure that they have a genuine Bank of England banknote.”
For more information and educational materials on how to identify genuine Bank of England banknotes, please visit the Bank’s website: http://www.bankofengland.co.uk/banknotes/educational.htm
Sentenced today:
