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Manila Bulletin devider Philippines devider National devider NBI arrests man with P12-B worth of 'fake foreign currencies, US federal bonds'

NBI arrests man with P12-B worth of 'fake foreign currencies, US federal bonds'

Published Mar 13, 2026 02:49 pm
A man was arrested inside a mall in Pasay City with about P12 billion worth of “fake foreign currencies and American federal bonds.”
National Bureau of Investigation (NBI) Director Melvin A. Matibag said the man was arrested during an entrapment operation conducted by the bureau’s Criminal Intelligence Division (NBI-CRID) last March 11.
“The Subject was arrested in flagrante delicto (in the act) upon receipt of the marked currency, and the operation yielded a massive haul of counterfeit United States treasury instruments and banknotes valued at P12 Billion,” the NBI said.
Seized from the suspect were $200 million “counterfeit American dollars and federal bonds, as well as fake Malaysian Ringgit,” it said.
After his arrest, the NBI said the man – whose name was not disclosed – was charged with illegal possession and use of false treasury or bank notes and other instruments of credit in violation of Article 168 of the Revised Penal Code (RPC).
Matibag said “the seizure of a staggering P12 billion in counterfeit US currency is a testament to the precision of intelligence-sharing with the Bangko Sentral ng Pilipinas (BSP).”
“This operation is not merely an arrest; it is a decisive blow against a multi-billion-peso threat to our financial integrity,” he also said.
The NBI said the arrest was a result of an intensive three-month investigation by the NBI-CRID, involving strategic surveillance and multiple test-buy operations.
“These undercover purchases confirmed the Subject’s involvement in the distribution of counterfeit currency,” it added.
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