The National Police have arrested two young Spanish men in Palma for their alleged involvement in a currency counterfeiting offence, in an operation that has now seen seven arrests since February and remains open. Three other young people have been identified as suspects in the same case, the police reported on Tuesday.
The investigation, carried out by officers from the Money Laundering and Counterfeiting Unit, focuses on the introduction of counterfeit 20 and 50 euro banknotes into nightlife venues in Palma.
Those arrested were acting as collaborators of the main suspect, arrested last April, who acquired the banknotes through illicit channels and distributed them among people in his circle to be used as currency.
The modus operandi consisted of paying for drinks with counterfeit banknotes and obtaining change in legal currency. The establishments did not detect the counterfeit notes until they counted their takings the following day, at which point they filed the corresponding complaint. The operation began in early February following a complaint filed by an establishment in Palma, which provided six counterfeit banknotes. A week later, another six banknotes with the same characteristics were intercepted. These reports led to the first arrest, that of a 19-year-old man.
In April, the operation entered a second phase with the arrest of four other people, also of Spanish nationality, including the main suspect. It was during this phase that investigators confirmed that the suspect was distributing the banknotes to people in his immediate circle, taking advantage of personal relationships to get them into circulation.
The third phase, which has led to the last two arrests and three new people under investigation, has focused on an exhaustive technological analysis of the information seized, with the aim of tracing the origin and distribution channel of the banknotes. Experts from the Bank of Spain’s National Analysis Centre described the counterfeit money as ‘dangerous’ given its high quality of reproduction, which made it difficult to detect with the naked eye.
The National Police emphasise that the circulation of counterfeit banknotes is a rare phenomenon in the Balearics, a situation they attribute to the islands’ insularity. Criminal organisations operating with counterfeit banknotes tend to use a method known as “drip feeding”, which consists of introducing small amounts of counterfeit money through multiple minor purchases.
To avoid police action, these networks tend to move continuously between locations, which is more difficult in an island environment such as Mallorca. Counterfeiting is punishable by between two and 12 years in prison, depending on the degree of involvement of each defendant. The Balearic Police Headquarters reminds the public that these types of crimes are considered particularly serious due to the impact they can have on the economy.