A joint operation between the National Crime Squad and the US Secret Service resulted in a raid on the premises of Woodward Graphics at Dean Street in Ashton-under-Lyne on 13 December 2002.

National Crime Squad officer detective superintendent Nick Lewis said the premises contained one of the most sophisticated counterfeit printing operations uncovered in recent years.

"These were good quality banknotes and travellers cheques, which could have had a significant undermining effect on those countries' economies."

The seven-strong operation had been running
for more than two years, printing more than 10m worth of 10 and $100 notes.

Officers found three presses in operation at the plant. A four-colour Komori Sprint, an unspecified Heidelberg and a single-colour unit producing counterfeit currency on Zanders Zeta grade paper.

Altogether, investigators found 1.6m in fake 10 notes, 1.8m in $100 bills and paper reels containing 33,394 separate holographic images capable of producing 1.9m in travellers' cheques when they raided the factory in Manchester.

Printing papers, ink substrates and a guillotine were also discovered at the unit.

A BBC undercover team also carried out its own investigation and infiltrated the gang. However an undercover reporter used by the BBC, 44-year-old James Raven, was subsequently jailed for life in February this year for an unrelated murder.

The four counterfeiters were sentenced at Manchester's Minshull Street Crown Court on 13 June, with a fifth given community service.
Two others are still awaiting sentencing.

Anatasios Arnouti, 37, of Atherton Close, Failsworth, Manchester, was jailed for eight years for conspiracy to make and pass counterfeit currency, and conspiracy to handle stolen goods.

David Harper, 37, of Denman Drive, Tuebrook, Liverpool, was jailed for six and a half years for conspiracy to make counterfeit currency and American Express holograms.

Philip Raynor, 48, of Rathbone Street, Rochdale, Manchester was jailed for four years after pleading guilty to conspiracy to make counterfeit currency, conspiracy to pass counterfeit currency, and conspiracy to handle stolen goods.

Robert Whittaker, 42, of Longfellow Street, Rochdale, Manchester, was jailed for two and a half years after admitting conspiracy to tender counterfeit currency.

Alison Jane Wyatt, 34, of St Christopher's Drive, Romiley, Manchester, was given 200 hours community service after admitting passing counterfeit currency and possession of counterfeit currency with intent to supply.

A BBC1 programme at 7pm this evening, Funny Money, will feature the "extraordinary story of Britain's most audacious 'funny money' operation".

Story by Andy Scott