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.