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The Philippines => Philippine Laws => Topic started by: MIKELIGALIG.com on December 05, 2009, 09:43:01 PM

Title: Fake Peso Money
Post by: MIKELIGALIG.com on December 05, 2009, 09:43:01 PM
By Tina Santos
Philippine Daily Inquirer

Manila city and police officials warned the public on Saturday about the proliferation of fake peso bills following the arrest of three suspects allegedly caught manufacturing counterfeit P500 and P1,000 bills.

The suspects were identified as Richard Dan, alias Richard Tang, 38, of 310 La Residencia Building, Tayuman corner Rizal Avenue, Sta. Cruz; Ricky Chan alias Iking, 45, of No. 1077 Aguilar St., Binondo; and Roel Yacob alias Richard, 41, of 2149 Severino Reyes St., Sta. Cruz.

Their arrest was reported to Mayor Alfredo Lim and Manila Police District director Chief Supt. Rodolfo Magtibay by district intelligence division chief Supt. Ruben Fojas Jr.

According to Fojas, Dan was the manufacturer and owner of the printing machines used for making the bogus bills, while Chan and Yacob were Dan’s employees who also acted as sales agents.

Prior to the suspects' arrest, authorities claimed they received information regarding the illegal activities of the three suspects and the proliferation of fake P500 and P1,000 bills in Manila.

Following a three-week surveillance, a buy-bust operation was subsequently conducted. A poseur buyer was able to purchase from Chan three pieces of fake P500 bills for P150 each.

When the poseur buyer negotiated for the purchase of 20 more bills, Chan accompanied him to Dan.

As soon as the marked money was handed over to the suspects, police swooped down on Dan's residence where the fake bills were being manufactured.
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