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A Richmond Hill man faces charges after the RCMP seized 10,000 counterfeit toonies.
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During the summer of 2021, officers started investigating those passing counterfeit coins in the Canadian banking system.
“These criminal charges are a reflection of the RCMP’s resolve in preserving the integrity of the Canadian currency system,” said Supt. Ann Koenig in a statement.
She added the force is committed to working with banks, the Royal Canadian Mint, and others to combat criminals who target Canada’s economic system.
The seized counterfeit two-dollar coins are identifiable by their primary characteristic flaw of having a split-toe on the right front paw of the Polar Bear instead of a claw. Police say they suspect there are additional counterfeit coins out there and that they were all from China.
“The unique features on Canada’s circulation coins make them among the most secure in the world and allowed these counterfeit pieces to be identified and removed from circulation quickly,” said James Malizia, of the Royal Canadian Mint, in a statement.
“The Royal Canadian Mint will continue to work closely with financial institutions and the RCMP to ensure the integrity of Canada’s coin supply.”
Daixiong He, 68, faces counterfeiting charges and is scheduled to appear in a Newmarket court on June 2.