- Fake peso bills amounting to one million pesos were seized by the authorities in Pasig City
- 6 suspects were arrested including the group’s leader
The authorities seized P1 million worth of counterfeit peso bills Tuesday in Pasig City from six members of a syndicate group allegedly involved in manufacturing and selling fake money.
The suspects arrested were identified as:
- Jaypee Balis (leader of the group)
- Aladin Akil
- Satar Akil
- Ramil Badang
- Alpha Sabar
- Watari Kusay
Criminal Investigation and Detection Group-National Capital Region (CIDG-NCR) personnel were serving a search warrant on Sto. Tomas Street, Pinalad, Barangay Pinagbuhatan when they found nine bundles of counterfeit P1,000 bills and five bundles of counterfeit P500 bills.
Also seized were Smith & Wesson 38-caliber revolver, five 38-caliber live ammunition and two magazines of 5.56.
The Bangko Sentral ng Pilipinas (BSP), meanwhile, has certified that the seized bills were not valid legal tender.
Authorities learned that the suspects sold a P1,000 bill for P300 each while a P500 bill was sold for P100 to P150.
The suspects will be facing charges for violating Articles 166, 168 and 176 of the Revised Penal Code (Forging Bank Notes, Illegal Possession and Possession of implements for falsification) as well as illegal possession of firearms.