Courtesy: NBI fb page
THE National Bureau of Investigation (NBI)’s Criminal Intelligence Division (CID) has confiscated $200 million (approximately P12 billion) worth of counterfeit United States (US) currency, leading to the arrest of one suspect in Pasay City.
The operation was part of a three-month investigation that culminated in a test-buy operation at a Pasay mall on March 11, where authorities successfully apprehended the suspect, who is identified as both a Filipino and a US citizen.
CID Chief Jonathan George Atienza disclosed during a press conference on Friday that the suspect was allegedly involved in selling counterfeit money.
The operation also resulted in the seizure of various other fake financial instruments, including Malaysian ringgit, US Federal bonds, and treasury bonds. The confiscation underscores the sophistication and scale of the illegal activities involving counterfeit currency, which threaten both local and international financial stability.
The suspect reportedly used three different aliases to carry out the modus operandi, which involved selling the counterfeit bills to unsuspecting buyers. When asked if the suspect had any accomplices, Atienza declined to comment further, stating that the investigation is still ongoing. The authorities are working to uncover any possible networks or individuals involved in the operation to dismantle the broader counterfeit currency ring.
NBI Director Melvin Matibag emphasized the importance of international cooperation in combating such crimes. He stated that follow-up operations are already underway, with coordination among various agencies to prevent the Philippines from becoming a haven for illegal activities. Matibag also highlighted the offense’s violation of U.S. and Philippine laws, noting that the counterfeit money damages international relations and economic stability.
The suspect is now facing inquest proceedings for illegal possession and use of false treasury or bank notes, while the investigation continues to unfold.
