Three mainlanders arrested for using fake '$500m' banknotes to open bank account

In an audacious forgery attempt, three mainland Chinese nationals were arrested on Tuesday after presenting 999 suspected counterfeit “$500 million” notes, totaling $4.995 trillion - at a bank in Mong Kok.

At around 11.15am, the suspects - a 72-year-old man, a 75-year-old man surnamed Lo, and a 65-year-old woman surnamed Li - entered a bank branch on 617-623 Nathan Road to open an account.

When they presented a stack of unusually large-denomination bills, each valued at $500 million, bank staff immediately grew suspicious and alerted police.

Upon inspection, officers said they found 999 suspected fake notes in the 72-year-old man’s possession.

All three suspects were arrested on suspicion of passing counterfeit notes. They are currently detained for further questioning, with the case being handled by detectives from the Mong Kok District.

(Marco Lam)