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Over Php 100,000.00 worth of counterfeit money was seized by the CIDG RFU7 together with RIU7 and Agents from the Bangko Sentral ng Pilipinas (BSP) during separate entrapment operations in Cebu City.

On October 25, 2021, IVAN NOVAL LUARDO, 35 years old was arrested for possession and control of 52 pieces of one thousand, and 70 pieces of five hundred fake peso bills, amounting to a total of Php88,000.00. Also confiscated from him was a genuine Php500.00 bill in top of the boodle money used as entrapment money.

Prior to this, a similar police operation was conducted against JOSEPH MERCADO SALAS, 36 years old on October 19, 2021 for making fake money bills wherein a total amount of Php24,000.00 in one thousand and five hundred denominations were confiscated from his possession.

In their initial inspection, BSP Agents revealed that the seized bills were found to be fake, for they failed to show any of the security features of a real banknote.

Accordingly, the police operation stemmed from the reports received by the CIDG that counterfeit money is being readied for use for the upcoming national and local elections.

In their statement, the BPS appealed to the general public to be familiarized with the features of the genuine ones to avoid being victimized by these illegal peddlers and also to help avoid the spread of the use of these counterfeit banknotes for legal tender.

"In the nearing 2022 elections, it is anticipated that many will attempt to run through any means in solely disrupting the government's goal of safekeeping the elections," PMGen Albert Ignatius D. Ferro, the CIDG Director affirmed.

LUARDO and SALAS were charged for violation of Article 168 (Illegal possession and use of false treasury or banknotes and other instruments of credit) in relation to Article 166 of RPC.

Under the instruction of the C, PNP PGEN GUILLERMO LORENZO ELEAZAR, the CIDG will thoroughly investigate the suspects' operations to identify and apprehend their possible financiers and other accomplices, in coordination with the Bangko Sentral ng Pilipinas.

“Paalala po namin sa ating mga kababayan na maging mapagmatyag at mapanuri sa mga kumalakat na pekeng salapi o pera sa kanilang lugar. Sa nalalapit na pagdiriwang ng kapaskuhan at halalan sa 2022 huwag pom nating hayaan na mabiktima tayo ng mga mapanamantala. At kung may alam po silang ganitong mga illegal na gawain ay agaran po ipagbigay-alam sa kanilang CIDG Amigo cops sa mga numerong 0977-3475267 at 0951-0593843 o sa malapit na police station sa inyong lugar,” added PMGen Ferro.

Over Php 100,000.00 worth of counterfeit money was seized by the CIDG RFU7 together with RIU7 and Agents from the Bangko Sentral ng Pilipinas (BSP) during separate entrapment operations in Cebu City.

On October 25, 2021, IVAN NOVAL LUARDO, 35 years old was arrested for possession and control of 52 pieces of one thousand, and 70 pieces of five hundred fake peso bills, amounting to a total of Php88,000.00. Also confiscated from him was a genuine Php500.00 bill in top of the boodle money used as entrapment money.

Prior to this, a similar police operation was conducted against JOSEPH MERCADO SALAS, 36 years old on October 19, 2021 for making fake money bills wherein a total amount of Php24,000.00 in one thousand and five hundred denominations were confiscated from his possession.

In their initial inspection, BSP Agents revealed that the seized bills were found to be fake, for they failed to show any of the security features of a real banknote.

Accordingly, the police operation stemmed from the reports received by the CIDG that counterfeit money is being readied for use for the upcoming national and local elections.

In their statement, the BPS appealed to the general public to be familiarized with the features of the genuine ones to avoid being victimized by these illegal peddlers and also to help avoid the spread of the use of these counterfeit banknotes for legal tender.

"In the nearing 2022 elections, it is anticipated that many will attempt to run through any means in solely disrupting the government's goal of safekeeping the elections," PMGen Albert Ignatius D. Ferro, the CIDG Director affirmed.

LUARDO and SALAS were charged for violation of Article 168 (Illegal possession and use of false treasury or banknotes and other instruments of credit) in relation to Article 166 of RPC.

Under the instruction of the C, PNP PGEN GUILLERMO LORENZO ELEAZAR, the CIDG will thoroughly investigate the suspects' operations to identify and apprehend their possible financiers and other accomplices, in coordination with the Bangko Sentral ng Pilipinas.

“Paalala po namin sa ating mga kababayan na maging mapagmatyag at mapanuri sa mga kumalakat na pekeng salapi o pera sa kanilang lugar. Sa nalalapit na pagdiriwang ng kapaskuhan at halalan sa 2022 huwag pom nating hayaan na mabiktima tayo ng mga mapanamantala. At kung may alam po silang ganitong mga illegal na gawain ay agaran po ipagbigay-alam sa kanilang CIDG Amigo cops sa mga numerong 0977-3475267 at 0951-0593843 o sa malapit na police station sa inyong lugar,” added PMGen Ferro.  

Over Php 100,000.00 worth of counterfeit money was seized by the CIDG RFU7 together with RIU7 and Agents from the Bangko Sentral ng Pilipinas (BSP) during separate entrapment operations in Cebu City.

On October 25, 2021, IVAN NOVAL LUARDO, 35 years old was arrested for possession and control of 52 pieces of one thousand, and 70 pieces of five hundred fake peso bills, amounting to a total of Php88,000.00. Also confiscated from him was a genuine Php500.00 bill in top of the boodle money used as entrapment money.

Prior to this, a similar police operation was conducted against JOSEPH MERCADO SALAS, 36 years old on October 19, 2021 for making fake money bills wherein a total amount of Php24,000.00 in one thousand and five hundred denominations were confiscated from his possession.

In their initial inspection, BSP Agents revealed that the seized bills were found to be fake, for they failed to show any of the security features of a real banknote.

Accordingly, the police operation stemmed from the reports received by the CIDG that counterfeit money is being readied for use for the upcoming national and local elections.

In their statement, the BPS appealed to the general public to be familiarized with the features of the genuine ones to avoid being victimized by these illegal peddlers and also to help avoid the spread of the use of these counterfeit banknotes for legal tender.

"In the nearing 2022 elections, it is anticipated that many will attempt to run through any means in solely disrupting the government's goal of safekeeping the elections," PMGen Albert Ignatius D. Ferro, the CIDG Director affirmed.

LUARDO and SALAS were charged for violation of Article 168 (Illegal possession and use of false treasury or banknotes and other instruments of credit) in relation to Article 166 of RPC.

Under the instruction of the C, PNP PGEN GUILLERMO LORENZO ELEAZAR, the CIDG will thoroughly investigate the suspects' operations to identify and apprehend their possible financiers and other accomplices, in coordination with the Bangko Sentral ng Pilipinas.

“Paalala po namin sa ating mga kababayan na maging mapagmatyag at mapanuri sa mga kumalakat na pekeng salapi o pera sa kanilang lugar. Sa nalalapit na pagdiriwang ng kapaskuhan at halalan sa 2022 huwag pom nating hayaan na mabiktima tayo ng mga mapanamantala. At kung may alam po silang ganitong mga illegal na gawain ay agaran po ipagbigay-alam sa kanilang CIDG Amigo cops sa mga numerong 0977-3475267 at 0951-0593843 o sa malapit na police station sa inyong lugar,” added PMGen Ferro.