BANK-NOTE FORGERS.

Auckland Star, Volume LIV, Issue 48, 26 February 1923, Page 10

BANK-NOTE FORGERS.

CJAXO BROKEN* IT. The arrest of John Poporich, of Xew York, ami J van Glavadonovic, of Sun Francisco, last month by Initecl States Secret Service agents, has broken up the international ring of counterfeiters, the members of which for months past have been passing spuriou- Knglisli bank notes on a wholesale scale. Popovic'.i was seized as he was leaving an hotel preparatory to taking the train to Canada, and a sfiirch of his luggage, it is alleged, disclosed slacks of counterfeit Knglisli banknotes of denominations of £50 and £100, totalling approximately £100,000. Detectives declared that t'.iis is the first instance of their knowledge of counterfeit English notes having been circulated in this country on any large scale, the notes being heretofore regarded as virtually forgery proof. Since the war some counterfeit £\ notes have, however, been discovered. I'opovich ami his confederates are believed to be the only persons sufficiently bold to attempt to pass spurious banknotes of larger denominations. Secret (Service men explained their success by the fact that Englis'.i paper currency has greatly increased in volume since the war, and many inexperienced foreign exchange dealers now doing business here are tempted to take bad notes when they are offered at a bargain. It is believed that ;V>out £10,000 of forged bills have been circulated in the United States but so far as is known none has passed in England.