Trial for counterfeit money

Fraud involving millions in the style of “shell players”

In unobserved moments, the suitcases of money were exchanged for "flowers".

(Bild: thinkstockphotos.de)

Two members of a Europe-wide clan were caught in Austria in a tricky fraud. Their methods of exchanging real money for counterfeit money in business transactions were cinematic. But now they are going to prison. 

You wouldn't know it by looking at the two Italians on trial - the complex scams for which they are sitting in front of the judge in Vienna. The duo are part of a clan that operates throughout Europe. "1.2 million euros in counterfeit money was put into circulation," says the public prosecutor, describing several phases of the offense.

Complex preparation
First, contact was made with sellers and entrepreneurs. In order to appear legitimate, fake identities and fake websites were created and untraceable email addresses and telephone numbers were set up. This was followed by the establishment of trust in expensive restaurants and hotels, where the perpetrators generously paid bills and expenses.

Money counting machine confirms authenticity
Finally, the crime was completed. According to the indictment, this is how it happened: Two cars should have been purchased for 160,000 euros. The seller checked the cash handed over with a money counting machine and confirmed its authenticity. But in an unnoticed moment, the fraudsters exchanged the suitcase of money for an identical container with counterfeit banknotes, and flowers fluttered towards them at home.

Philipp Wolm defended one of the perpetrators.

(Bild: zVg)

Lightning-fast exchange for counterfeit money
Another case involved a Bitcoin transaction. The perpetrators wanted to get a large quantity of bitcoins transferred in exchange for cash. The banknotes in the amount of 550,000 euros were placed on the table and the business partner was given the opportunity to check the cash for authenticity. After the check was positive, the victim authorized the transfer of 9.8 bitcoins. Once again, the fraudsters succeeded in exchanging the previously checked cash for counterfeit money.

It has to be said: a system like this does not work without the greed of the victims.

Anwalt Philipp Wolm

Victim brought six gold bars to sign the contract
A businessman from Upper Austria also fell for the clan. The defendants expressed interest in shares in the company and contacts were made in a hotel in Verona (Italy). Specially created websites were used to give the impression of being a serious business partner. Part of the agreement was that 250,000 euros commission in gold would be handed over when the contract was signed. The victim brought six gold bars and in return received a down payment of 500,000 euros for the company shares. After the money had been counted, the perpetrators placed it in a brown suitcase, which was subsequently exchanged without anyone noticing.

Seven years in prison
After remorseful confessions, the trial is short: seven years in prison for the first defendant, 22 months for the younger accomplice. Defense lawyer Philipp Wolm(www.kw-anwaelte.com) concluded: "My client has dropped his pants today and has fully confessed. But it has to be said: a system like this doesn't work without the greed of the victims."