$150-B ‘fake’ US T-bills seized

ANGELES CITY — Agents of the Criminal Investigation and Detection Group (CIDG) seized boxes of allegedly fake US federal treasury bills purportedly worth some $150 billion in a raid on a house here last Tuesday.

Sources at Camp Olivas, the regional police headquarters in the City of San Fernando, said one Demetrio Garcia and four companions were arrested after they yielded treasury bills each purportedly worth $250 million.

At least 30 of the bills were found in frames apparently for exhibit, while the others were kept in six sealed boxes.

Garcia’s companions were identified as Sonny Catolico, 41; Eduardo Bacal, 54; Lorenzo Narin, 58; and Rolando David, 52.

The CIDG agents also found a caliber .45 pistol in Garcia’s tightly guarded house at Villasol Subdivision here.

The agents, led by Chief Inspector Raul Valencia, also found a logbook containing the names of people, including police officers with the rank of senior superintendent, who allegedly receive "payola" of P150,000 each from Garcia’s group.

A member of Garcia’s household, who asked not to be named, claimed that the US federal treasury bills were genuine and would mature this year.

He claimed that upon redemption of the bills, the money raised would purportedly be used to pay the country’s external debts and fund some development projects, including those lined up for the Diosdado Macapagal International Airport at the nearby Clark special economic zone.

He claimed that Garcia found the bills in a remote area in Luzon, but he gave no details.

Senior Superintendent Angelito Pacia, Angeles City police chief, said the CIDG had coordinated with him for the raid, but he declined to give details.

CIDG officials, who led the raid, were reported to have gone to Camp Crame early yesterday purportedly to present the suspects to higher authorities.

Garcia, however, was rushed to the Ospital ning Angeles where he was allowed to recover from high blood pressure.

Regional Trial Court Judge Napoleon Sta. Romana of Guimba, Nueva Ecija issued the CIDG a search warrant for the raid on Garcia’s house.

Sources said an agent of the US Federal Bureau of Investigation tipped off the CIDG about Garcia’s activities.

Before the raid, some CIDG officials had reportedly been receiving calls from someone who introduced himself as "Ambassador Domingo" who insisted that Garcia’s bills were genuine. — With Ric Sapnu