2 arrested for selling fake money in Cagayan de Oro City

Two men were arrested in the last two weeks in Cagayan de Oro City for selling counterfeit Philippine and US currencies, a television report said Wednesday.

 

Jojo Navarro was arrested in a hotel during a sting operation conducted by police and the Bangko Sentral ng Pilipinas, GMA Northern Mindanao's Kaye Mercado reported.

 

Chief Inspector Melgar Devaras, head of the police Criminal Investigation and Detection Group in Cagayan de Oro City, said they arranged the transaction at the hotel.

 

Seized from Navarro were 56 $2 bills, which he sold for P25 each. Also seized were 230 P500 bills, which he sold for P180 apiece.

 

Also confiscated from him was a homemade handgun.

 

Navarro denied knowledge about the fake money and insisted he was merely ordered to transport it.

 

"Sabi nila na 'Sama ka, kikita tayo basta sama ka, madali lang ito.' Sumama ako kasi akala ko kung saan lang patungo. Ipinadala niya sa akin ang pera, sabi niya ihahatid lang daw niya doon," he said.

 

Police theorized the money may have been made in Villanueva town in Misamis Oriental, and that a large syndicate could be behind the counterfeiting.

 

Last Thursday, authorities arrested in a separate sting operation Ruben Ilanan.

 

Seized from Ilanan were 50 $1 bank notes and 100 P1,000 bills. Ilanan also claimed he was a "victim" of the syndicate.

 

"Kung alam ko lang ano ‘yon, hindi ko gagawin ‘yon. Hindi ko alam ang kanilang ipinapagawa basta sumama lang ako sa kanila," Ilanan said.

 

Both Navarro and Ilanan face charges of illegal possession and use of false treasury or bank notes and other instruments of deposit.

 

Navarro also faces added charges of illegal possession of firearms.

 

Meanwhile, the CIDG reminded the public to be wary of fake money. — Joel Locsin/LBG, GMA News