Authorities Arrest Cagayan de Oro Businessman For Allegedly Making Fake Money
CAGAYAN DE ORO BUSINESSMAN – A businessman in the city was arrested for allegedly making fake Php 1,000.00 bills.
Making fake money is against the law and has corresponding charges for those who will commit it. There were already several instances when certain individuals where arrested over “fake money production” allegations.
Recently, another similar case crossed the surface. It took place in Cagayan de Oro City.
Based on a report on ABS-CBN News, a Cagayan de Oro businessman was arrested by the authorities over “fake money” allegations. He was nabbed at his house in Barangay Tablon.
According to Philippine National Police Criminal Investigation and Detection Group (CIDG) – Misamis Oriental team leader Police Lieutenant Noel Oclarit, it was someone from Bangko Sentral ng Pilipinas who initially received a feed regarding the accusation.
“Pumunta ang Bangko Sentral ng Pilipinas sa Cagayan de Oro para magsagawa ng surveillance sa suspek. Matapos silang nakakuha ng impormasyon, saka sila pumunta sa [CIDG] para magpatulong sa operasyon,” Oclarit expressed based on the report.
The authorities seized printing equipment and 129 pieces of fake Php 1,000.00 bills at the house of the suspect. Also, a firearm was found. The family of the suspect denied the allegations.
Reportedly, the suspects is faced with multiple charges over the illegal possession of firearms and the violation of the following articles of the Revised Penal Code:
- Article 168 (Illegal Possession of False Treasury or Bank Notes)
- Article 166 (Forging Treasury or Bank Notes)
- Article 176 (Possession of Instruments or Implements for Falsification)
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