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China Sentences Two Men to Death for Making Counterfeit Money
Two counterfeiters have been sentenced to death in China after making fake Hong Kong and Taiwan coins with face value worth more than 128,000 dollars, state media reported Wednesday in Beijing.
Cai Xiong from Hong Kong and Xie Zhuxin from the province of Guangxi, were sentenced by a court in southern Guangdong province, the Xinhua news agency said.
A third man, convicted of collaborating with Cai, received a death sentence suspended for two years, while 26 others received jail terms up to life imprisonment for trading and smuggling counterfeit money.
The counterfeiting began in July 1995 when Xie sold 1,000 fake Hong Kong 10-dollar coins to Cai for 1,600 yuan (193 US dollars), the court said.
Cai resold the coins in the Guangdong city of Shenzhen for 2,300 yuan (277 US dollars), the court said.
In the same year, Cai collaborated with Xie in making 10,000 counterfeit New Taiwan dollar coins.
Emboldened by his success at counterfeiting, Cai continued to make fake Hong Kong coins in collusion with Chen Zongqiang, a contractor at a hardware and plastic molding factory in Shenzhen.
By March 1997, they had produced more than 100,000 fake ten-dollar coins worth about 128,000 US dollars.
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