Regional Director Ruel Lasala, of the NBI-National Capital Region (NCR), said the operation has resulted in the arrest of Francisco Quintano Imperial, 62, of Malibay, Pasay City and Felizardo Labado Boizer, 44, of Bagong Silang, Caloocan City.
Charges of estafa and illegal possession or use of falsified Treasury Notes under the Revised Penal Code were lodged against the duo before the Las Piñas City Prosecutor’s Office.
The entrapment operation was a result of a tie-up between the NBI-NCR and the Bangko Sentral ng Pilipinas (BSP), which had certified the dollars being peddled by the suspects as bogus.
Lasala said they recovered eight bundles of 100 pieces of fake $100 bills. Each bundle was being sold for P20,000. Also found in their possession were eight bundles of $1 million in fake US Federal Reserve Notes.
NBI officer-in-charge Nestor Mantaring asked the public to be extra cautious when buying US dollars.
"It is during this Christmas season when fake dollars proliferate in the market so we should be careful," he said.
NBI-NCR Executive Officer Rosauro Bautista said the suspects were distributing "class B" fake dollars. Although the $100 dollars appeared authentic, the BSP representatives were able to detect flaws in the bills.