Support The Moscow Times!

Men Arrested After Stealing $1M At Fake Moscow Currency Exchange

Maxim Shemetov / Reuters

Police in Moscow have arrested two fake currency exchange operators who made off with $1 million stolen from an unsuspecting customer. 

The scammers reportedly rented an office space that previously housed a bank cash register and refitted it as a currency exchange booth without a license.

The victim and his friends sought to exchange the $1 million into rubles from the unlicensed operator in central Moscow, Russia’s Interior Ministry said in a statement on its website Wednesday. 

“The operator, having received the bag with money, closed the cash register window supposedly to count the received bills and exited through an emergency exit,” the ministry said. 

“The perpetrators' accomplices had recommended this currency exchange booth as having the most favorable rate,” it added. 

The two suspects have been arrested on charges of large-scale fraud, a penalty that carries a prison sentence of up to 10 years.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more