Fake dollar bills worth P33.8 M seized

DAVAO CITY — Southern Mindanao agents of the National Bureau of Investigation (NBI) arrested two men here last weekend and seized P33.8 million in counterfeit $100 bills from them.

Also confiscated from suspects Pedro Lacang, 46, and Priscillo Posadas, 49, were hand-press and embossing machines and several pieces of uncut fake $100 bills with and without serial numbers.

Posadas was charged with violation of Article 168 of the Revised Penal Code for illegal possession and use of false treasury or bank notes and other instruments of credit.

Lacang, on the other hand, was found to have violated Article 166 of the Revised Penal Code for forging treasury or bank notes and other documents.

Posadas and Lacang, who were presented to the media last Monday by NBI deputy director for regional operations Reynaldo Esmeralda and NBI-Southern Mindanao chief Romulo Manapsal, had been under surveillance for three months before they were finally arrested last weekend.

Posadas reportedly owned a printing press along Quezon Boulevard here, while Lacang was one of his workers. They were arrested at the printing press.

Esmeralda said the NBI would look deeper into the case because Posadas and Lacang could possibly be part of a big-time syndicate involved in counterfeiting different currencies.

Lacang was reportedly arrested for the same offense in General Santos City last June, but certain individuals posted his P16,000 bail.

Lacang was vague on who bailed him out when quizzed by reporters, saying it was a certain Abring. He then changed his mind, claiming it was a pastor, then a former Army major, an NBI agent and later a couple, who he could not identified though.

Lacang said the one who bailed him out forced him to continue printing counterfeit currencies to pay for his bail.