Posted on 21 November 2012.
The NBI today arrested Richard Uy, 64, a retired rubber stamp maker who turned into the high-tech business of making counterfeit money. Uy, who closed his small stall in Colon St., Cebu City and traded his carving tools for computers and printers in his home/office in Barangay Kasambagan, Cebu City, said he has already disposed of some P100,000 in fake notes during his operation of less than a year. Recovered during the NBI entrapment operation were counterfeit Philippine peso, US dollar and Indonesian rupiah notes worth some P500,000. Uy said he gets orders for fake bills. He sells a P1,000-note for P85. He told the NBI that he operates alone and that he learned the craft by doing a lot of research, mostly online. He is now being detained at the NBI stockade pending the filing of a case.
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