METRO VANCOUVER — The RCMP's federal counterfeit enforcement team claimed Thursday to have shut down the largest counterfeiting operation in B. C. history.

Officers raided a residence in the 8600-block 151B Ave. in Surrey on May 14 and arrested four persons and seized $220,000 in counterfeit Canadian and U.S. currencies in $50 and $100 denominations.

Also seized were several computers, printers and other equipment used to manufacture the fake banknotes.

Richard McCaw, 30, of Coquitlam and Jesko Lindt, 49, of Surrey have been charged with manufacturing and possessing counterfeit bills, and possessing instruments for manufacturing counterfeit currency.

Lindt was released but McCaw, who police say was familiar to them, is being held in custody.

Two others, a 55-year-old male and a 28-year-old female, have been released on promises to appear in court.

The investigation into the counterfeiting ring began in November.

Samples of the counterfeit notes plus the equipment seized in the raid were displayed in the RCMP’s federal operations building on 76th Avenue in Surrey.

Sgt. Tony Farahbakhchian, a counterfeit specialist with E-Division’s federal commercial crime section, said the seizure of phony banknotes was “the large seizure of this nature in B.C.’s history.”

Counterfeiters in B.C. account for nine per cent of the amount of phony currency circulating in Canada, he said.

According to Bank of Canada national statistics from February to March this year the number of counterfeit $20s increased by 24 per cent, $50s increased by 19 per cent and $100s by 15 per cent.