Filtered By: Topstories

P1M worth of fake peso bills seized in Pasig

Authorities on Tuesday seized P1 million worth of counterfeit peso bills from six members of a syndicate group allegedly involved in manufacturing and selling of fake money in Pasig City.

Personnel of the Criminal Investigation and Detection Group-National Capital Region (CIDG-NCR) were serving a search warrant on Sto. Tomas Street Pinalad, Barangay Pinagbuhatan in Pasig City when they found nine bundles of counterfeit P1,000 bills and five bundles of counterfeit P500 bills.

The Bangko Sentral ng Pilipinas has also certified that the bills recovered were not valid legal tender.

The implementation of the search warrant, meanwhile, also resulted in the seizure of one S&W 38-caliber revolver, five 38-caliber live ammunition and two magazines of 5.56.

The suspects arrested were identified as Jaypee Balis, who is the alleged leader of the group, and its members including Aladin Akil, Satar Akil, Ramil Badang, Alpha Sabar and Watari Kusay.

They will be facing charges for the violation of Articles 166, 168 and 176 of the Revised Penal Code (Forging Bank Notes, Illegal Possession and Possession of implements for falsification) as well as Republic Act No. 10591 or the Firearms Law. — MDM, GMA News