Five Romanian nationals have been arrested in the northern part of Corfu island for possession and use of counterfeit money, police said on Saturday.
Three Romanian women, aged 19 and 28, and three Romanian men, aged 22 and 24, were arrested and will be taken before a public prosecutor.
Police said a 19-year-old Romanian woman, who was arrested on Wednesday, had purchased merchandise which she paid for with two fake 50-euro bills in several merchant shops in the town of Roda.
Following complaints filed by the shopowners, police launched an investigation and located the other four members of the ring in a hotel room in Sidari, where police found and confiscated 53 fake banknotes of 50 euros denomination, four cell phones, and 1,500 euros in cash.
The investigation was continuing for more ring members.