Counterfeit money suspect free on bail

THE 64-year-old businessman who was accused of manufacturing and selling fake currency notes stepped out of jail yesterday.

Richard Uy posted a P78,000 bail bond for his temporary liberty.

He faces charges of forgery before the sala of Regional Trial Court Executive Judge Silvestre Maamo of Branch 17.

Uy was charged with forging treasury or bank notes, illegal possession of false bank notes, and possession of instruments for falsification.

He was arrested by agents of the National Bureau of Investigation on Tuesday after he handed over several fake P1,000 and P500 bills to NBI Agent Bernard dela Cruz in a sting operation.

A total of P350,000 worth of fake notes were seized from Uy.

There were also fake dollar bills estimated at P150,000.

The peso bills amounted to P250,000.

In his defense, Uy said he just heeded Dela Cruz’s request for him to manufacture the fake bills.

The NBI also confiscated fake official receipts, a computer monitor, printer, scanner, central processing unit, and materials believed to be used in counterfeiting operations.