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Police bust Gabane fake currency gang

Wednesday, July 26, 2023 | 1980 Views |

Bank of Botswana chief financial officer, Daniel Loeto, says a group of 12 young Batswana were recently arrested in Gabane with counterfeiting equipment.

The gang is believed to be responsible for a surge in fake notes this year, where the Bank picked a staggering 3,214 counterfeits between January and June, compared to 917 for whole of last year. The most affected currency is the P200 notes. "In April, there was a report in the Francistown and Tonota policing area of 3,196 counterfeit P200 notes. "The investigations revealed that the production house is around Gabane at a genuine business, a stationary business, and the police raided the business and confiscated the equipment from there," Loeto said.

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Police bust Gabane fake currency gang

Bank of Botswana chief financial officer, Daniel Loeto, says a group of 12 young Batswana were recently arrested in Gabane with counterfeiting equipment.

BCP eyes student vote revival

UB politics shapes future leaders

DIS officers seek tribunal authority over Magosi

DIS officers reject Magosi’s defence over P7.4m payout

DIS in P 1.5m employees money theft accusation

Botswana bets on gas mining boost for flagging economy

Mupane creditors grow uneasy as appeal drags on

UDC NEC to reconvene post leadership changes

Botswana must not be a flag of convenience for rogues