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Sour Mash

Three Jailed For D.i.y. Q.e. Programme

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http://www.bbc.co.uk/news/uk-england-london-22612487

Three fraudsters have been jailed for what is believed to be the biggest ever plot to make fake pound coins - after 50,000 false coins were found.

Kevin Fisher, 53, and Daniel Sullivan, 28, were found guilty of possessing counterfeit currency and items to make counterfeit currency.

At Southwark Crown Court they were jailed for five and seven years.

Mark Abbott, 44, of Cedars Park Drive, Edmonton, pleaded guilty to the charges and was given a two-year prison term.

They should have left it to the professional fraudsters in the central banks - if fifty grand of money creation gets you seven years inside just imagine what you'd get for three hundred and seventy five billion quid (and counting ...) of funny money.

Edited by Sour Mash

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With approval you can create all the fake money you like.

So the cost of creating £50k in fake pound coins is what? Anyone know what the set up costs would be for the press and cost of the metal needed? Is is going to generate a good return on investment?

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My granddad, long gone now, I believe made some 50p pieces back in the day.

Surely one would be better making copper, nickel, silver and gold coins today, stamped with ones own face. Especially if you are prudent with money and debt averse.

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With approval you can create all the fake money you like.

So the cost of creating £50k in fake pound coins is what? Anyone know what the set up costs would be for the press and cost of the metal needed? Is is going to generate a good return on investment?

Probably profitable if done well but would produce an extremely good return for the very talented.

Cost of metal is ~4.2p

You would need to produce the alloy and blanks yourself to make it significantly less likely to get caught.

The cost of the dies for the press is some what dependant on the quality you would want (not even need for venting machine fraud?)

This makes going large scale to recover the investment cost attractive but very risky.

This lot probably got caught because they were too ambitious.

They had 50k in boxed pound coins ready to distribute but 1.6M blanks not yet pressed!

The Metropolitan Police said

the haul was "the tip of the iceberg".

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The cost of the dies for the press is some what dependant on the quality you would want (not even need for venting machine fraud?)

I believe that vending machines are far better at detecting forged £1 coins than shopkeepers etc. If a car park machine won't accept a £1 coin then it's almost certainly a forgery.

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50,000 £1 coins = £50,000.

Less manufacturing costs of say £10K, leaving £40K.

Devide this by 4 and you get approx £13K poer person.

And they lock you up for 5-7 years

Meanwhile, on the same day in Northampton:

http://www.northamptonchron.co.uk/news/crime/fraudster-lied-about-her-single-status-northampton-crown-court-told-1-5124081

"Fraudster lied about her single status, Northampton Crown Court told"

"A woman from Northampton who lied about her single status to fraudulently claim nearly £15,000 in benefits has been handed an eight-month suspended sentence."

So this woman stole £2K more and got a suspended sentence.

There seems to be an imbalance in the system.

of course the money printers might have made more than 50K coins but that would have to be proven, so we can only go on the facts.

How much did the fraudulent expenses MPs steal from us all ?

Any theft should be dealt with severely, stealing from the state, i.e. from everyone, should be the worst theft of all.

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I believe that vending machines are far better at detecting forged £1 coins than shopkeepers etc. If a car park machine won't accept a £1 coin then it's almost certainly a forgery.

Yes..

I have a close relative who works as a bank cashier - apparently something like 1 in 10 pound coins are fake. Some really bad as well - very few people look closely at all.

If you can get a good run going, it's a safer way of making money (sic.) than forging £20 notes, because they are much easier to distribute and far less likely to be closely inspected.

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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