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Tel Aviv Police Raid Phoney $ Factory, Nab Five

Police raided a small printing plant here Friday and confiscated $4,5 million in counterfeit U.S. Dollars. A 37-year-old Ashdod resident, alleged leader of the counterfeit ring, was arrested with two confederates at the plant. Police said they were caught red-handed. Two other suspects were arrested at their homes.

The arrests capped a five-month investigation and stake-out. Police said they watched ring members cart hundred Dollar bills from the press to a rented car. They said a search of the premises yielded good quality paper sufficient for printing between 200 and 300 million phoney Dollars, apparently for distribution in the U.S.