POLICE have arrested two men in the Costa Blanca and Valencia areas for assisting in the production of counterfeit 500-euro bills.

A La Nucia printing press was seized in September in the first wave of arrests, which included the ring-leader- described as one of the best counterfeiters in Europe.

His gang are said to have produced over eight million euros in fake bills in the largest enterprise of its kind in the EU.

12 people were arrested three months ago.

A number of companies acted as fronts for the criminals with police visiting two registered offices in Altea and two in Picassent.

The detained men colluded with the forgers to import high quality paper from China used to produce the fake notes.

Their firms also conspired to hide the identities of the counterfeiters.

Specialised machinery for making the fake notes were seized from the men’s premises.

The operation was led by the Mossos d’Esquadra acting for the investigating Barcelona area court, in association with the Policia Nacional.

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