NBI raids printing shop, seizes fake bills

MANILA, Philippines - The National Bureau of Investigation (NBI) said it has busted a syndicate producing counterfeit P500 and P200 bills following the arrest of the gang’s alleged mastermind and two members during a raid on a printing shop in Parañaque City Wednesday night.

In a report submitted to NBI Director Magtanggol Gatdula, the NBI National Capital Region (NCR) office identified the suspects as Jemsher Velasco, 31, owner of Oblingahera Printing Services on Quirino Avenue in Don Galo, Parañaque City; Fredelyn Arones, alias Arcie, 25, waiter; and John Arnold Muñoz, 30, student.

Seized from the three suspects were 120 counterfeit P200 bills and several P500 bills, with a street value estimated at P35,000.

The suspects were brought to the NBI headquarters in Manila and charged with violation of Articles 176 (manufacturing and possession of instruments or implements for falsification), 168 (illegal possession and use of false treasury or bank notes and other instruments of credit) and 166 (forgery) of the Revised Penal Code before the prosecutor’s office in Parañaque.

According to NBI-NCR chief Constantino Joson and NBI Calabarzon chief Rustico Vigilia, the NBI has been receiving reports of rampant sale of counterfeit P500 and P200 bills in the Calabarzon area last month.

The NBI Calabarzon agents then bought P500 bills sold by a syndicate member for P200 each. Another test buy yielded more P500 bills for the same price, and P200 for P50 each. The transactions were made in Bacoor, Cavite.

The NBI agents then submitted the bills to the Bangko Sentral ng Pilipinas, which certified that the bills were fake.

The NBI said the syndicate members were very mobile as they constantly transferred their operations. The agency said it traced the syndicate’s alleged main source – Velasco’s printing shop – Wednesday night.– With Aie Balagtas See