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Counterfeiting gang sentenced after producing £4 million fake notes
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A GANG of five people who ran a counterfeiting factory, which produced over £4million of forged Bank of England, Scottish and euro notes, were sentenced at Croydon Crown Court today.
City of London Police officers worked with investigators from the Bank of England and the Counterfeit Currency Unit at the Serious Organised Crime Agency (SOCA) to arrest the five defendants back in October 2006 following the search of a premises in East London.
The address was a former shop which the defendants had rented and were using as a centre for the production for counterfeit currency. They seized £3,911,960 worth of notes at various stages of production.
The notes consisted of Bank of England £20, Bank of Scotland £20 and £50 and 50 euro notes all destined for circulation throughout the UK.
Officers also recovered the specialist equipment required to produce the forged banknotes.
Since the arrests the Bank of England has been tracking notes with the same serial numbers through the banking system and has recovered a total of £4.2million produced from the same production plant.
The five defendants Rekha RAM, 27, Rainham, Essex; Kenneth HOWE, 35, Rainham, Essex; Gary BOWERS, 27, Dagenham, Essex; Terry LEADEHAM, 46, E16; Carol Reid, 60, E16 all pleaded guilty to conspiracy to manufacture currency and conspiracy to use counterfeit currency with intent.
Today they were sentenced to:
Kenneth HOWE - Four years
Rekha RAM - Eighteen months
Gary BOWERS - Two years
Terry LEADEHAM - Two years Carol REID - One year suspended
Senior Investigating officer DI Dave Clark, from City of London Police Central Detective Unit, said: "This gang were caught in the process of distributing counterfeit bank notes within the UK which could have resulted in an undermining of public confidence in both British pounds and the Euro."
"They had created a production line which was generating roughly 25% of all the counterfeit currency in the UK.
Thanks to prompt action by City of London Police, the Bank of England and SOCA we have succeeded in shutting down the production line and are conducting an ongoing investigation under the Proceeds of Crime Act to identify and recover any outstanding assets."
Andrew Bailey, the Bank of England's Executive Director, Banking Services, and Chief Cashier, said: "I am very grateful to City of London Police for their work in pursuing this case to a successful conclusion. This outcome sends a clear message to criminals who engage in counterfeiting banknotes - you will be caught and punished for your crime."
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Do you know this man?
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DASHEM TESFAMICHAEL is wanted for questioning by City of London Police in connection with the murder of music producer, Olu Olagbaju, back in December 2006 at Shadans nightclub in the City.
Olu was in the club celebrating his 26th birthday with friends when he was subjected to an unprovoked and vicious attack on the dance floor of the club. He later died as a result of his injuries.
Olu was a successful promoter with his own independent music label and was highly thought of in his local community of Hainault. |
He left behind a young family, and friends described him as a dynamic and well-liked person with a bright future ahead of him.
Tesfamichael, 22, is known to have previously lived in Euston and Grays, Essex and has connections with Hackney, Clapton and Canning Town.
Anyone with information on his current whereabouts is urged to contact City of London Police on 020 7601 2222. Information can also be given anonymously to Crimestoppers on 0800 555 111, and may result in a reward.
For further information contact City of London Police press office on 020 7601 2220.
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Why not come and visit our stand at the Rise Festival?
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LONDON'S FREE anti-racist music festival, Rise: London United Against Racism, will take place on Sunday 15 July 2007 at Finsbury Park. Featuring acts from the world of hip-hop, indie, pop, jazz and reggae.
Rise is Europe's biggest anti-racist music festival, and is one of the 'don't miss' events on the festival circuit this summer. Whether you're looking to show your support to fight racism or just wanting a great free day out, it's the place to be! |
This annual anti-racist festival, organised by the Mayor of London, celebrates the diversity of this great city, with an eclectic mix of indie, hip-hop, sould, rock and world music. there really will be something for everyone.
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