Authorities from the National Bureau of Investigation (NBI) along with other law enforcement agencies here have busted a syndicate believed to be responsible for the proliferation of fake P500 bills in the city Thursday dawn.
By virtue of a search warrant issued by Judge Emmanuel Carpio of Regional Trial Court (RTC) Branch 16, the raiding team composed of the NBI Southeastern Mindanao Office, intelligence unit of the Philippine Airforce and representatives from Bangko Sentral ng Pilipinas, swooped down into the residence rented by the suspects led by Romeo Alferez Jr. alias Junjun Ampatuan at Purok Talisay, Buhangin Davao City.
The operation started in an entrapment operation at Sasa, Davao City where Alferez was arrested.
Other suspects arrested were Edwin Pring, Rolando Claros alias Taba alias Tabudlong.
Claros is presently being tried of the same offense before RTC Branch 14.
Pring was collared by the authorities as he tried to remit their income in their illegal activity.
Armed with a search warrant, the NBI along with police authorities entered into the group’s safehouse in Buhangin.
The raid yielded several fake P500 bills, computer, printer, and other computer accessories.