Counterfeit ring busted

CEBU CITY — Police intelligence and Central Bank agents were believed to have busted in a series of operations last week a syndicate specializing in fake currency when they arrested a suspected distributor of bogus money in Lapu-Lapu City last Thursday and then raided his printing shop here the other day.

In all, the operation, authorized by a court warrant, resulted in the seizure of thousands of fake P500 and $100 bills, as well as several pieces of bogus Government Service Insurance System police forms and the computer program used to make them.

The swoop started with the arrest of Marcelino Mayuela and his driver Noel Caballero and ended with the raid on Mayuela’s printing shop. — Freeman News Service