Fake P1K, P500 bills seized by PNP, BPS agents in Cebu

October 28, 2021 Alfred P. Dalizon 207 views

AT least P82,000 worth of fake P1,000 and P500 bills were seized by combined agents of the Philippine National Police (PNP) and Banko Sentral ng Pilipinas (BSP) in an entrapment operation in Cebu City last Monday, a report to PNP chief, General Guillermo Lorenzo T. Eleazar said.

The operation was conducted amid efforts of the PNP headed by General Guillermo Lorenzo T. Eleazar to prevent the possibility that fake money will be used to fund the election bid of some rogue politicians.

The sting conducted by members of the Regional Criminal Investigation and Detection Unit 7 and the Regional Intelligence Unit 7 in coordination with the BSP also led to the arrest of 35-year old Ivan Luardo who yielded 52 pieces of counterfeit P1,000 bills and 70 pieces of fake P500 bills as well as the boodle money topped by a marked P500 bill paid to him by an undercover officer.

PNP-CIDG director, Major Gen. Albert Ignatius Ferro said that last October 19, a similar operation also led in the arrest of Joseph Salas,36. The suspect yielded P24,000 worth of fake bills and several paraphernalia being used to manufacture counterfeit bills.

The fake bills recovered from the suspects have no security features of a real bank note.

The operation was launched amid reports that counterfeit money may be used in the forthcoming 2022 national and local elections.

The BSP appealed to the general public to be familiar with the features of genuine peso bills to avoid being victimized by these illegal peddlers and also to help avoid the spread of the use of these counterfeit banknotes for legal tender.

“In the 2022 elections, it is anticipated that many will attempt to run through any means in solely disrupting the government’s goal of safekeeping the elections,” Ferro said. He added that this include the use of fake bills to fund the campaign of some candidates.

The suspects have been charged for violation of Article 168 (Illegal possession and use of false treasury or banknotes and other instruments of credit) in relation to Article 166 of the Revised Penal Code.

“Paalala po namin sa ating mga kababayan na maging mapagmatyag at mapanuri sa mga kumakalat na pekeng salapi o pera sa kanilang lugar. At kung may alam po silang ganitong mga illegal na gawain ay agaran po ipagbigay-alam sa kapulisan,” Ferro said.