The fake bills in the denominations of Rwf5,000 were recovered from the suspect, who was arrested in Ndago market in Mubuga cell, Kibeho sector where he was trying to buy clothes.
Chief Inspector of Police (CIP) Emmanuel Habiyaremye, the Police spokesperson for the Southern region, said that the suspect, who was handed over to RIB at Kibeho station, was arrested at about 4p.m.
"Police was called in by the would-be victim selling clothes at Ndago market whom the suspect was trying to defraud with the fake bills," CIP Habiyaremye said.
He further explained that suspect was attempting to pay Frw61,000 for the clothes he had bought from the would-be victim, but the seller noticed that all the 13 bills in the denominations of Rwf5,000 were fake, prompting him to call the police.
"The suspect was arrested at the scene, searched and found in possession of counterfeits totalling to Rwf680,000, all bills with the same serial number," said CIP Habiyaremye.
Investigations are still underway to arrest all those connected to this counterfeit, he added.
Article 269 of law No 68/2018 determining offenses and penalties in general, states that any person, who fraudulently counterfeits, falsifies or alters coins or bank notes which are legal tender in Rwanda or abroad, notes issued by the Treasury with its stamp or brand, either banknotes or alike that have legal tender in Rwanda or abroad, or one who introduces or issues in Rwanda such effects or notes with knowledge that they are forged or falsified, commits an offence.
Upon conviction, he/she is liable to imprisonment for a term of not less than five years and not more than seven years.