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Russia Busts First Euro Counterfeiting Ring, Interfax Says

Russian investigators broke up the country’s first counterfeiting ring that produced fake euros, Interfax reported, citing unidentified Interior Ministry officials.

The group was producing the equivalent of about 40 million rubles ($1.3 million) of euros, dollars and other currencies a month, the Russian news service reported. The fake money was used to fund extremists in the North Caucasus, Interfax said.

To contact the reporter on this story: Brad Cook in Moscow at bcook7@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

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