Armed Iranian national yields P18.6-M fake gold bars
Published May 17, 2026 08:42 am
A 32-year-old Iranian national was arrested after allegedly selling fake gold bars worth P18,660,000 in Barangay Poblacion, Makati City.
Personnel of the Makati City Police Station arrest an Iranian national after allegedly selling 60 pieces of fake gold bars worth P18.6 million (Photo from SPD)
The Southern Police District (SPD) said the suspect, identified only as “Saeid,” is a gold and watch seller. He was arrested inside a hotel during a transaction with victims to whom he was selling fake gold bars.
Based on the investigation, the suspect allegedly had a transaction with the victims inside a corporation office located within a hotel for the sale of 60 pieces of gold bars on May 15.
After receiving the payment, the suspect reportedly returned carrying a black hard-lock case containing the alleged gold bars along with purported certificates of authenticity.
However, when the victims examined the gold bars through physical inspection, weighing procedures, and gold solution testing, they discovered that the items were allegedly fake.
The victims confronted the suspect and asked for their money back, but instead of cooperating, Saeid allegedly pulled out a Smith & Wesson caliber 9mm pistol and threatened them and several witnesses not to seek police assistance.
It prompted a scuffle, which eventually led to the suspect’s restraint and apprehension before the arrival of responding personnel from the Makati City Police Station.
Authorities recovered pieces of evidence from him, including a black hard lock case, 60 pieces of alleged fake gold bars, 60 alleged falsified certificates of authenticity, a Smith & Wesson caliber 9mm pistol, a magazine loaded with seven rounds of live ammunition, a gold testing solution, a testing stone, a weighing scale, and an iPhone 16 Pro Max.
He also failed to present pertinent documents for the firearm.
The suspect is now under the custody of the Makati CPS Investigation and Detective Management Section (IDMS) and is facing charges for swindling, grave threats, grave coercion, falsification of documents, and violation of Republic Act 10591 or the Comprehensive Firearms and Ammunition Regulation Act.
SPD chief Brig. Gen. Glenn Oliver Cinco commended the Makati CPS and emphasized that the accomplishment reflects SPD’s intensified campaign against all forms of criminality, including transnational fraud and armed offenses.
“This accomplishment demonstrates the Southern Police District’s commitment to aggressively pursue individuals involved in fraudulent activities and other criminal offenses. We assure the public that SPD remains steadfast in protecting the community and ensuring that offenders are held accountable under the full force of the law,” he said.