Two arrested after selling counterfeit US dollars

A buy bust operation led to the arrest of two men who were reportedly selling fake US dollars in Manila, the National Bureau of Investigation (NBI) said on Tuesday. Four bundles of counterfeit hundred dollar bills were also seized from the suspects during the operation, Claro de Castro, chief of the NBI’s Interpol Division, said on Tuesday. The operation yielded 384 pieces of fake 100 US dollars bills, and five (5) pieces of 1000 peso bills, the NBI said. The bureau filed charges against Warlito Madrid Jr., of Pasong Kawayan 2, General Trias, Cavite and Felecito Briones Jr., of Area 1, Barangay Libho, Parañaque City, for violating Article 168 of the Revised Penal Code (Illegal Possession and Use of False Treasury or Bank Notes and Other Instruments of Credit). Authorities held an investigation before the Manila Prosecutor’s Office after the suspects were arrested during the buy-bust operation. It was discovered that the bureau received information about a syndicate — led by a certain Roel Santos alias Ka Imo — that produced, distributed, and sold fake US and Philippine currencies. An NBI agent, whose name was withheld, together with an NBI asset, later conducted a test-buy that confirmed the illegal activity. Surveillance and intelligence-gathering was later conducted to trap the suspects, enabling the poseur-buyer to enter a deal with suspect Madrid. Together with the Cash Department of the Bangko Sentral ng Pilipinas (BSP), the NBI team conducted a buy-bust operation inside the Times Plaza at the United Nations Avenue corner Taft Ave. in Ermita, Manila. After the suspects handed fake dollars to the buyer and received the marked peso bills, NBI operatives approached them and placed them under arrest. - RJAB Jr., GMANews.TV