Close  

Suspected maker of counterfeit peso bills arrested in Cebu

By: - Correspondent / @cebudailynews
/ 06:18 PM July 30, 2013

CEBU CITY, Philippines — A 65-year-old man allegedly making fake money and documents was arrested by the police in a buy-bust operation Monday night in Barangay (village) Kasambagan, this city.

The operation also resulted in the confiscation of 3,000 pieces of 1,000-peso bills. The fake peso bills could be sold by a middle man at a price of P200 to P250 each.

ADVERTISEMENT

Chief Inspector Aileen Recla, who led the team from the police’s Investigation and Detective Management Branch (IDMB), identified the suspect as Richard Uy, a resident of Sitio Univille, Barangay Kasambagan, Cebu City.

Uy was arrested in an entrapment operation just outside his residence in Barangay Kasambagan on Monday when he agreed to sell 20 pieces of 1000-peso bills at P100 each or for a total of P2,000.

FEATURED STORIES

When the transaction was consummated, Recla said, they saw, through the open door of Uy’s house, a computer printing fake bills.

This prompted the police to enter and seize the 20 counterfeit $100-bills, fake driver’s license, transcript of records and school diplomas.

Recla’s team also seized a computer, a printer and stamping machines.

The IDMB put Uy under surveillance for two weeks after an informant personally went to their office and told all about what he knew of Uy’s operations, Recla explained.

Last year, Uy was arrested by the National Bureau of Investigation (NBI) agents for possession of fake money but he was released after he posted bail. The case remains pending in court.

Senior Superintendent Mariano Natuel Jr., outgoing chief of Cebu City Police Office (CCPO), said that Uy’s market was in Mindanao and Malaysia.

According to Natuel, the fake money would be brought to Malaysia and changed with Ringit because Malaysia has no capacity to detect fake peso bills. Uy also admitted that the fake bills were intended for abroad.

ADVERTISEMENT

Uy will be facing violation of Revised Penal Code and Republic 176 for the manufacture and possession of counterfeit peso bills.

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: counterfeiting, Crime, fake money, News, Regions, Richard Uy
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.