The Manila Bulletin (November 6, 1999)

Cagayan de Oro City, Mindanao Island, Philippines - Agents of the United States Secret Service and the Cagayan de Oro City police arrested the alleged ring leader and seven members of an international counterfeit syndicate identified as the Cabillar Group.This group is allegedly responsible for the manufacture of counterfeit US federal reserve notes amounting to more than $222 billion and $155 million worth of US treasury bonds which were found in their possession at Talisay Beach, sitio Punta, barangay Bonbon, this city yesterday.

According to Supt. Cesar Quano, Jr., Cagayan de Oro City police director, the ring leader was identified as Elmer Cabillar, 40, businessman, while its members are: Nelson Nueva, 36, businessman and former owner of Nueva Tracking; Rustico Cabillar, 43; Noli Tejara, 24, a media practitioner; a certain Perez, 28; Reygen Roca, 17 and Andres Roca, 34. Confiscated from their possession were 500 pieces of Liberty bonds, 1,457 pieces of US federal reserve notes, two pieces Federal Reserve Certificates, 10 pieces US treasury Certificates, two pieces of genuine P1,000 bills, two pieces of counterfeit dollars, 513 pieces of defaced genuine P10 bills, 3 pieces of Yugoslavian Insurance Certificates, 84 pieces of Argentine money, one piece of Imperial Government of Japan Insurance Certificate, five pieces of Yugoslavian Certificate of Deposit, one .38 caliber Squires Bingham revolver, one .38 caliber Colt revolver, one Smith and Wesson revolver, and computer sets with scanner.

The US Secret Service agents, in coordination with the Cagayan de Oro City police led by Quano, the Bangko Sentral ng Pilipinas Investigation Staff and the National Intelligence Coordinating Agency led by Regional Director Manuel Gabut, swooped down on the hideout of the syndicate with a warrant of arrest issued by Judge Maximo Paderanga of the Regional Trial Court (RTC) of Misamis Oriental, 10th Judicial Region, Cagayan de Oro City.

In a report submitted by Quano to the regional office, it was disclosed that the ring leader was spotted yesterday noon upon arriving from Davao City on board a newly purchased L-300 and was proceeding to his main hideout at Talisay Beach when the raiding party pounced on him. A agent said the syndicate was responsible for the manufacture of hundreds of fake treasury notes. The victims who found out that the papers were worthless complained to the US embassy and this triggered the operation in the Philippines.
By Jerry T. Uy
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