Gardaí seize up to €10m in fake €50 notes

Gardaí have uncovered a second sophisticated money counterfeiting operation in the space of two months, this time seizing up to €10m worth of fake notes.

A man in his 50s was in custody last night after the seizure of the fake money and counterfeiting equipment.

On Wednesday members of the Garda Special Detective Unit, as a result of information received, searched a lock-up premises in north county Dublin.

There they found what was described as a “large amount” of counterfeit currency, understood to be €50 notes. It is believed the total was as much as €10m.

In follow-up searches in the Coolock and Artane areas of Dublin yesterday, printing and computer equipment were seized.

The arrested man was last night being held at Coolock Garda Station under Section 4 of the Criminal Justice Act.

In February gardaí seized up to €2.1m worth of notes following an operation in Dublin and Meath. At the time gardaí blamed subversive gangs for the operation.