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4/1/11

Chinese 'euro coin scam' leads to arrests in Germany

Police in Germany have arrested six people - four of them ethnic Chinese - suspected of cashing in invalid euro coins worth about 6m euros.Broken coins are believed to have been sold to buyers in China as scrap metal, then welded back together, flown back to Germany and exchanged for banknotes at the Bundesbank - the central bank. 

The Bundesbank exchanges damaged euro coins for banknotes at face value.

For more: BBC News - Chinese 'euro coin scam' leads to arrests in Germany

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