Operatives of the National Bureau of Investigation arrested a suspect in Pasay City on March 11 for allegedly manufacturing, distributing, and possessing counterfeit U.S. dollar notes and Treasury instruments worth โฑ12 billion.
The arrest was carried out by the agencyโs Criminal Intelligence Division following a three-month investigation that included surveillance and several test-buy operations. Authorities said undercover transactions confirmed the suspectโs involvement in the distribution of fake currency.
After agents successfully obtained three bundles of counterfeit U.S. dollars during earlier operations, a final transaction was arranged at a mall in Pasay City where the suspect was apprehended.
Operatives from the NBIโs Criminal Intelligence Division, assisted by technical experts from the Bangko Sentral ng Pilipinas, proceeded to the payout site to execute the operation. The suspect was arrested in flagrante delicto after receiving marked money.
Authorities recovered counterfeit U.S. Treasury instruments and banknotes with an estimated value of โฑ12 billion during the operation.
The suspect was presented for inquest proceedings before the Pasay City Prosecutorโs Office for alleged violation of Article 168 of the Revised Penal Code, or illegal possession and use of false treasury or banknotes and other instruments of credit.
Melvin A. Matibag, director of the NBI, said the massive seizure highlights the effectiveness of intelligence-sharing between the bureau and the Bangko Sentral.
โThe seizure of a staggering โฑ12 billion in counterfeit U.S. currency is a testament to the precision of intelligence-sharing with the BSP,โ Matibag said, adding that the operation dealt a significant blow to groups involved in large-scale financial fraud.
He said the bureau remains committed to dismantling counterfeit syndicates and protecting the public from fraudulent financial activities.
