$89 B in fake US bonds seized

Police seized $89 billion worth of fake US Federal Reserve Bond Certificates during a raid in Malayba-lay City in Bukidnon last week.

Agents of the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG), assisted by local policemen, also confiscated nine fake US Treasury Bond Certificates, one fake gold bar and one gold bullion molder from the house of the suspect, Alfonso Rullorata, in Barangay Cabangahan in Malaybalay. Rullorata is believed to be a member of a counterfeit syndicate.

Confiscation of the fake gold bar and the Treasury notes was accidental as the law enforcers were actually searching for unlicensed firearms believed owned by the suspect.

Rullorata and a companion, Jaafar Tago, who was present when the raid was conducted, were arrested and taken to the police headquarters for questioning.

Appropriate criminal charges have been filed against the suspects.

The CIDG team, led by Chief Inspectors Edito Joven and Bobby Abao seized one M-16 rifle, a 12-gauge shotgun, eight loaded Armalite magazines and several rounds of ammunition.

CIDG agents also seized last month huge amounts of fake US Federal Reserve notes during a raid on the syndicate’s hideout in Cagayan de Oro City. — Jaime Laude