Two foreigners were yesterday charged with trying to dupe people into believing that they could double their money through a phoney process that magically transforms white paper into proper €50 and €100 notes.

Honduran Igancio Sacoza, 36, and Cameroonian Bertrand Kegni, 35, who claimed to be tourists, denied carrying out the scam on Wednesday and on the previous days across the island.

Police Inspector Jonathan Ferris exhibited sheets of white paper, the size of €50 and €100 bank notes. The sheets had the images of the bank notes printed on them with an ink only visible under UV light.

The accused would allegedly tell their victims that paper could be turned into proper euros through a process that required actual bank notes to essentially double the money. Once given the money, the men took off, leaving the victims high and dry, sources said.

The men denied conspiring to defraud people and were remanded in custody.