NEWSFLASH

BOGUS $ AND PESOS IN BICOL

Legazpi City, April 16, 2000 - Government officials in the Bicol Region issued warnings yesterday on the proliferation of fake US$100, P1000, and P500 bills in the area, following the arrest of a woman who tried unsuccessfully to change a US$100 in a local money exchange shop.

Elenita Rivera, 29, of Pilar, Sorsogon was arrested after dollar-exchange manager Sauro Aldana became suspicious and called the police when Rivera tried to change a $100 bill.

Responding police officer Allan Acejo brought the bill to the Bangko Sentral ng Pilipinas where it was found to be fake.

On interrogation, Rivera pointed to one Christopher Apuyan, also of Pilar town, as the source of fake US currency.

BSP regional manager Necitas Marilag admitted the proliferation of bogus bills in Bicol, suspected to be distributed by a fake dollar syndicate believed to be based in Metro Manila.

Several banks across the region have also monitored the existence of bogus P1000 and P500 bills, Marilag said.