Jakarta. The National Police announced on Thursday the arrest of ten suspects involved in an alleged counterfeit currency operation, with a total fake currency value of Rp 1.2 billion ($77,732).

The suspects were apprehended during recent raids in East Bekasi, just outside Jakarta. The counterfeit operation was reportedly based in a printing company located on Juanda Street in the district.

Police first raided the printing company last week, arresting two suspects on-site. A separate operation at a hotel on Diponegoro Street in East Bekasi led to the arrest of eight additional suspects.

Lead investigator Brigadier General Helfi Assegaf confirmed that the owner of the printing company, identified by the initials SUR, is among those in custody.

According to the police, each suspect had a distinct role within the syndicate, including handling orders for counterfeit money, participating in production, and distributing the fake currency.

Authorities seized 12,000 counterfeit Rp 100,000 bills, along with printing equipment and cellphones, during the raids.

The syndicate allegedly intended to sell the counterfeit bills for Rp 300 million ($19,435) to an undisclosed buyer.

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