It is a fake badge in my opinion. Poor details, and I believe it is a cast judging by the pin holes on the reverse and the way it has been rubbed down with sandpaper to remove the burrs around the edges. You can see how the edges of the wreath are shiny.
Looking for LDO marked EK2s and items relating to U-406.....
Thank you for the reply! I'll let my friend know to toss it.
Charles
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