Police Seize 5 With Counterfeit Billions
THE PHILIPPINES
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Police and Central Bank agents arrested five men and seized $137.6 billion in counterfeit U.S. Treasury notes, currency and certificates in the southern Philippines, officers said. They said the suspects, arrested Saturday in Cagayan de Oro, also had 110.5 million in fake Argentine pesos, worth $30.6 million.
The arrests and seizures followed two similar busts in Manila in recent weeks in which authorities seized $4.24 trillion in counterfeit Treasury notes and arrested at least three people. It was not immediately clear whether the two incidents were related.
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