Individuals suspected of printing large amounts of foreign currencies and money laundering were brought to court.
The suspects appeared at Federal Court of First Instance court in Addis Ababa.
The police said that Tsehay Real Estate, which is owned by Chinese investors in Addis Ababa, Ethiopia, is involved in this crime.
The police have announced that, they have arrested nine foreign nationals, including the general manager of the real estate, Kia Zhong.
Three Ethiopian suspects were also arrested among the foreign nationals who were arrested by the police on suspicion of money laundering.
Police asked the court to give them 14 days to proceeds further investigations on the matter.
The police explained to the court that, the individuals were suspected of printing large amounts of foreign currencies and promoting the black market.
At the time of their arrest, the police mentioned that printing machines used to print the currencies of various foreign countries and chemicals used for input, as well as several Euros, US dollars and currencies of other countries were seized.
Police explained about its extensive investigations on the suspects and asked for 14 days to identify their individual involvement.
The lawyers of the suspects argued that no additional investigation time should be given in the case that the criminal involvement of the individuals has not been revealed.
The general manager of Tehay Real Estate, Kia Zhong said that, the currency of foreign countries was found in his home and office.
Finally, the court granted the 14-day appointment requested by the police.
