East Kilbride police collar IT businessman

December 26, 2009 by  

Earlier this year a Glasgow business man, John Farrell, was questioned at East Kilbride police station. Police took three days to thoroughly search his premises, where they found what they described as a ‘money factory’.

Police found inkjet printers, a large quantity of specialist paper, gelatine solutions, various guillotines, foil strips and compress printing inks. They also found ‘a considerable quantity’ of Royal Bank of Scotland and Bank of Scotland £10 notes at various stages of completion and a quantity of printed sheets with front and back images of £20 notes.

Farrell’s IT Company had got into financial difficulties and he came up with an idea to print his way out of trouble. Unfortunately, he also involved his sons, Craig and Paul and a young employee, Gordon Grainger. When questioned, they both admitted to making and passing counterfeit money.

It was estimated that they were able to print up to 25 £20 banknotes per hour. The banks had managed to recover nearly £200,000 worth of counterfeit money which was in circulation. The quality was said to be very good.

After trial, John Farrell got five years eight months, Craig Farrell, who supplied the brains, got two years five months, Paul Farrell and Gordon Grainger each received 300 hours of community service for passing counterfeit money.

So, printing companies in East Kilbride and Glasgow, remember it is only governments that are allowed to print some quantitative easing. You must not print your own!