Students at $40,000-a-year elite private school allegedly busted for using fake $50 bills to scam news agency

  • Scots College students allegedly used counterfeit money at a local newsagent
  • Jim Cho of the Double Bay Newsagency said the students exchanged two fake $50s
  • He claims the same group came back to the store on Tuesday with the same stunt
  • Mr. Cho reported the students to the police and shared their photos with other stores

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Students from an elite school in one of Australia’s most expensive suburbs were allegedly caught using fake money to trick a small business owner out of $100.

Double Bay Newsagency store manager Jim Cho claims a couple of students from Scots College in Bellevue Hill, eastern Sydney, came into his store last Sunday and asked to exchange four $50 bills for two $100 bills.

However, he claims that two of those $50 bills were counterfeit.

Sir. Cho said his son was working the cash register at the time and didn’t notice the fake currency and handed over $200 to the student.

Double Bay Newsagency store manager Jim Cho claims Scots College students gave him fake money (pictured, the fake $50 students allegedly paid with compared to a real note)

It wasn’t until Mr Cho checked the register that he noticed two $50 bills were much shorter than the others – with the news agency losing $100 to the students.

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He claims the same group then came in on Tuesday and tried to pull the same stunt again.

‘This time it was very unprofessional and too obvious. I couldn’t believe they came back again, he said Daily Telegraph

.

‘Yesterday I printed out warnings to most (surrounding) shops and some shops said they recognized them.’

Sir. Cho said he told the boy off for allegedly trying to pull the same trick again, but the student started crying.

“We had a very nice customer who asked if we could leave the child alone… What can you do?” he said.

Sir. Cho claims his son was given two fake $50 bills along with two real ones, which were exchanged for two $100 bills from his till (pictured, students and Mr. Cho’s son)

Sir. Cho gave surrounding businesses a flyer (above) with a photo of the students who allegedly gave him fake cash on Sunday

Frustrated and determined to warn his neighbors about the alleged forgeries, Mr Cho uploaded his security footage of the boys to YouTube and began circulating their images around town.

He said a teacher from the prestigious school, which charges tuition fees of up to $40,000 a year, visited his shop on Wednesday to quietly sort out the situation.

But despite the teacher’s efforts, Mr Cho decided to report the students to the police.

Scots College principal Ian Lambert said the school is co-operating with investigators and will enforce “appropriate disciplinary action”.

“The college is cooperating with the NSW Police and will continue to counsel the student and work with his parents until the incident is fully resolved,” he said.

“The college takes the situation extremely seriously and appropriate disciplinary action will be taken once the full facts are established.”

The school confirmed that the owner had been refunded in full.

Scots College confirmed that the owner had been refunded in full