July 4, 2012

       A joint team of National Bureau of Investigation (NBI) and Bangko Sentral ng Pilipinas (BSP) operatives raided a retail store printing and selling fake peso bills and arrested its owner in C.M. Recto Avenue, Manila yesterday.

      The subject was identified as AERIES S. VILLARUEL with aliases Irish and Aires, 29, of Henry Yang Complex, G/F, 1871 C.M. Rector Ave., Sampaloc, Manila.

   On June 7, 2012, the BSP received reliable information that suspect Villaruel is allegedly involved in the manufacture/printing of counterfeit Philippine and US currency notes at his rented store in CM Recto Ave., Manila.

   Operatives went to the store and saw the fake P1000 and P500 peso bills on top of a table and various printing paraphernalia. A test-buy was immediately made. An operative bought from Villaruel a counterfeit one-piece 1000-piso note at the price of P150.00 and one piece 500-piso note at the price of P100.00

  On June 18, 2012, a search warrant was applied for and issued by Manila RTC Branch I Presiding Judge Tita Bughao Alisuag. In the afternoon of July 4, 2012, BSP and NBI agents raided the said store, served the warrants and arrested Villaruel.

  Found and seized were fifteen (15) pieces counterfeit P1000 bills, and other printing paraphernalia.

  Charges for violation of Art. 166 (Forging Treasury or Bank Notes or Other Documents), and Art. 168 (Illegal Possession and Use of False Treasury or Bank Notes and Other Instruments of Credit) of the Revised Penal Code were filed against the suspect before the Manila City Prosecutor's Office.