“Fake money maker” posts bail

CEBU, Philippines - “I want to go home.”

This was the statement of 64-year-old Richard Uy, the businessman who posted bail yesterday after he was arrested for allegedly making fake money.

A resident of Univille, Barangay Kasambagan, Cebu City, Uy was arrested in an entrapment operations conducted by elements of the National Bureau of Investigation last Tuesday.

He was brought by NBI agents to the Palace of Justice to post bail for three cases filed against him.

Uy said he wants to go home and rest.

Earlier, the Cebu City Prosecutor’s Office recommended the filing of three cases before the court after Uy waived his right to undergo preliminary investigation to answer the allegations filed against him.

Prosecutor Van Russel Inopiquez indicted Uy for violation of Section 166 of the Revised Penal Code or tampering of Philippine bills and two counts of Section 168 of the Revised Penal Code or illegal possession and intent to use fake money.

She recommended P30,000 bail for violation of Section 166 and P24,000 bail for each count of Section 168 of the Revised Penal Code.

Uy posted a surety bond for the three cases and is now free from detention.

The National Bureau of Investigation (NBI)-7 led by lawyer Bernard dela Cruz arrested Uy during an entrapment operation last Tuesday afternoon.

They were able to seize of about P500,000 worth of fake peso and dollar bills, several computer units and printers.

NBI-7 conducted the entrapment operations after Neil Herrera, who allegedly received a fake bill, filed a complaint before the said office.

Based on reports, dela Cruz and other agents conducted surveillance and traced the fake bill to Uy.  As proof, they conducted a test buy on Uy and were able to buy six pieces of fake P500 bills at P85 per bill.  (FREEMAN)