WASHINGTON ( CNN ) -- Authorities call it one of the largest counterfeit operations ever discovered . The investigation began in January when a man from China was arrested at an airport for trying to smuggle more than $700,000 worth of fake U.S. currency into Canada. Scheme profited `` off the backs of legitimate companies '' Counterfeit operation allegedly involved 300,000 high-end bags and wallets . The alleged leaders are three Chinese citizens living in New York .
Authorities call it one of the largest counterfeit operations ever discovered . The investigation began in January when a man from China was arrested at an airport for trying to smuggle more than $700,000 worth of fake U.S. currency into Canada. Scheme profited `` off the backs of legitimate companies '' Counterfeit operation allegedly involved 300,000 high-end bags and wallets . The alleged leaders are three Chinese citizens living in New York .