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A gang making and distributing counterfeit money was believed busted following the arrest of seven of its members in a sting operation in Pasay City before dawn Tuesday.
The seven were arrested after handing over eight fake P1,000 bills to an undercover police operative, radio dzBB's Rodil Vega reported.
Pasay City police chief Senior Superintendent Rodolfo Llorca said they are interrogating the arrested members on the source of their money and the financier of their operation.
Llorca was quoted in the report as saying the gang was selling the fake P1,000 bills for P300 each.
Investigation showed the Pasay police acted on a tip that the group was from Taguig City and was to sell bills along Taft Avenue in Pasay City.
The police arranged a transaction with the group and arrested the seven members as they handed over the fake bills to the undercover operative.
Llorca said their investigation showed the gang was operating in Metro Manila, Ilocos and Southern Luzon.
He also said they are verifying information the gang may distribute fake money during the campaign period, possibly to help some politicians buy votes. —KG, GMA News