In the northern German port city of Kiel, police announced on Friday that they had uncovered counterfeit cash worth over 103 million dollars.
Officials believe that the seized counterfeit currency of poor quality was part of a broader operation to send counterfeit notes from Turkey, through Germany, to the United States (U.S.).
Investigators tracked the location of the suspect company after U.S. security authorities notified the German federal police.
The state police in Schleswig-Holstein stated that they conducted “extensive searches” of the suspect’s residence and the addresses of two companies, in Schleswig-Holstein and neighboring Hamburg.
Police discovered and seized four pallets containing a total of 75 boxes of counterfeit U.S. dollars.
Investigators believe that the banknotes originated from a wholesaler in Turkey. The wholesaler allegedly used one of the export companies accused in the town of Jubek in Schleswig-Holstein as temporary storage for further transportation to the U.S.
A 42-year-old suspect, who has not been detained so far due to lack of evidence, is under investigation on charges of counterfeiting. He is the managing director of two export firms and is suspected of previously exporting counterfeit money across the Atlantic.