A Sydney man has been caught making $1 million in counterfeit $50 notes, despite Australia boasting it has one of the lowest rates of counterfeiting in the world.
Benjamin Gillette-Rothschild, 34, pleaded guilty in the Downing Centre District Court, The Daily Telegraph reports.
How he made the fake notes remains a secret due to the court order, but he boasted the process was so easy he did it all from the comfort of a leather chair.
Can you spot the fake? One of these $50 notes is real, and one of them is not. The genuine bill is at the top, and the fake at the bottom. The fake $50 is more pale, its edges are skewed, has only four stars and the embossing on the window is missing (photo obtained by The Daily Telegraph)
Gillette-Rothschild allegedly used ‘fake names’ to buy three commercial printers for $80,000, ink, and specialised plastic.
He pleaded guilty to eight charges of making counterfeit money, and was sentenced in February.
The Australian Federal Police arrested him in September 2016, while raiding a house in New South Wales.
According to court documents, he asked four international people to ‘get change at retail stores’ for $100,000 worth of counterfeit notes, according to the,The Daily Telegraph.
Police however, allegedly intercepted a phone call between two men.
About $850,000 of the fake money (genuine $50 notes pictured) has allegedly been recovered
The other man was given a suspended jail sentence in 2017.
The Reserve Bank of Australia, on its website, boasts Australia has one of the lowest rates of counterfeiting in the world.
‘Most people will never see a counterfeit, the website stated.’
‘Even so, it is important to be aware of the security features included on Australia’s banknotes so you can protect yourself against accepting a counterfeit. It is important to note that counterfeits have no value.’
About $850,000 of the fake money has reportedly been recovered.
The Reserve Bank of Australia, on its website, boasts Australia has one of the lowest rates of counterfeiting in the world. Here are some tips on how to identify a counterfeit note.