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To: long-gone who wrote (60681)	11/8/2000 8:03:34 AM
From: lorne	Read Replies (1) \| Respond to of 116764

Philippine Police Seize $84 Bln In Fake US Reserve Notes Wednesday, November 8 3:03 PM SGT MANILA (AP)--Philippine police seized $84 billion in counterfeit U.S. Federal Reserve notes following the arrest of six people accused of selling bogus bills and gold bars, officials said Wednesday. The group was uncovered after a businesswoman complained to the Department of Interior that she paid $53,000 to them for two gold bars which turned out to be fake, police said. The bogus gold bars were sold to a Taiwanese legislator by her brother-in-law, landing him in jail, said Supt. Carlos Baltazar, head of an anti-crime task force of the interior department. After three weeks of surveillance, members of the group were arrested Monday night in a pizza parlor in Makati City, part of metropolitan Manila, Baltazar said. Police said they seized 287 counterfeit U.S. Federal Reserve notes, with a face value of $84 billion, and two fake gold bars from the group. Baltazar said the notes "looked real" but were determined to be fake by a U.S. Secret Service agent from the U.S. Embassy. The fake gold bars were actually gold-plated lead that had a small hole filled with about 5 grams of genuine gold from which group members drew samples for prospective buyers, Baltazar said. Based on documents seized from the group, the group has victimized three Japanese businessmen, four companies and two Filipino businessmen, police said. Before this week's arrests, police had seized more than $112 billion in fake U.S. reserve notes in Manila and the southern Philippines from other gangs. Police said some of the fake notes, which were of good quality, were intended to be smuggled out of the Philippines for sale in undetermined foreign countries. Police said they had no evidence that the seizures were related to the arrest in the United States of a man accused of trying to cash a bogus $100 million Federal Reserve bearer bond allegedly issued in 1934. Kevin S. Jackson, of Hyde Park, Utah, who was charged last week, claimed he received the bond through an intermediary of an unnamed Philippine general. asia.biz.yahoo.com