By Hubert Walker for CoinWeek….
Police in Madrid arrested three individuals yesterday on charges of counterfeiting up to 12,000 two-euro coins over five years.
The three appeared to be running the counterfeiting operation out of their houses, using equipment readily-available at the average home improvement store. During the arrests, officers found a total of almost 8,000 counterfeits at the three houses, along with 400 coins in varying stages of production.
The trio are no strangers to counterfeiting charges. All three have been arrested and convicted before, in connection to the forgery of 500-peseta coins before Spain switched to the euro in 2002.
The investigation was a collaboration between the Madrid Transport Police and the Bank of Spain General Judicial Police.