Cameroonian nabbed for ‘black dollar’ scam

MANILA, Philippines — The National Bureau of Investigation (NBI) has arrested a Cameroonian national for allegedly collecting at least P4 million in exchange for fake dollar bills at a hotel in Makati.

Members of the NBI Cybercrime Division posed as investors to apprehend Khan Fonkam, who allegedly promised to convert fake US dollars into real currency using a chemical process.

The NBI agents recovered the fake US dollars in Fonkam’s hotel room.

The scheme, known as the “black dollar” scam, involves convincing victims to pay money for chemicals purportedly needed to convert counterfeit currency into real dollars.

The suspect’s arrest stemmed from the complaint of a victim, who reported that Fonkam gave him a suitcase of fake money in exchange for P4 million.

The NBI said the victim met Fonkam through social media.

“The agreement was to split the amount, with each of them getting $2.5 million. The victim shelled out P4 million to buy the chemical,” Van Homer Angluben, executive officer of the NBI Cybercrime Division, said.

Fonkam is being held on charges of estafa and illegal use of false treasury bank notes.