Tuesday, November 13, 2007 Cabaero: Pursue case of fake bonds By Nini B. Cabaero Beyond 30
TWELVE police officers and a civilian were recently given recognition for their role in the recovery of a trunk containing counterfeit United States bonds worth $3 trillion.
While the awards to them proved it does not take special skills, only dedication to the work, to have such an achievement, the case itself involving the fake bonds is far from over.
Several questions have remained unanswered. Why Cebu? Who was responsible for the counterfeiting? How and where was it done? Were any of the printing presses here involved? Who were the contact persons in Cebu that participated or arranged for the transit of the trunk-load of fake bonds?
How big is $3 trillion?
Interior and Local Government Undersecretary for Special Concerns Joselito Ruiz gave the plaques of recognition to members of the Cebu Provincial Police Office responsible for the recovery of the bonds. They are Provincial Police Director Carmelo Valmoria, Argao Police Chief Teodulfo Manatad III, SPO1 Wilfredo Tauto-an, SPO2 Reynaldo Rubia, SPO1 Zorobabel Oyangoren, PO3 Ruben del Mar, PO2 Eliezer Canada, PO1s Rodrigo Teo, Von Tecson, Eduardo Semilla, Rey Antonio Saga and Jordan Balderas and civilian employee Rommel Teo.
It was last Oct. 12 when the trunk was discovered in a banana grove in Argao town, Cebu. A Sun.Star Cebu report on the incident said a Caucasian man, who did not have a shirt on, drove a red Mitsubishi Pajero to Sitio Prenza, Barangay Talaga, and dropped off an antique-finish bronze chest in a banana grove beside the highway and drove away further south.
Residents went to inspect the trunk, which was described as 14.3 inches high, 27.3 inches long and 10 inches wide. It looked like a treasure chest in a pirates movie.
The trunk was marked “Federal Reserve Bank, Cleveland, Ohio, series 1934. Total Face Value: three trillion USA” and had the seal of the United States Government.
As the onlookers gathered around the chest, a red Kia Sportage with four persons on board drove by and slowed down when they neared the chest, the report said. The four—one woman and three men—were described as “Asian-looking.” The car turned back upon seeing the people milling around the trunk. No arrests have been made.
Inside the trunk were 13 compartments, two of them opened and the rest sealed. One compartment had seven film clichés, 12 bank certificates, 12 redemption act certificates, 12 treasury certificates, 12 inventory lists, 12 gold reserve act certificates, 11 insurance certificates and 12 gold bullion certificates. Another compartment contained 200 US federal bond interest coupons, with each coupon stating that it was worth US$1 billion, the report said.
Provincial Police Director Valmoria said the case was still “active” and he was waiting for word from the US Embassy in Manila on the status.
An initial analysis by police and US Honorary Consul John Domingo in Cebu showed there were signs the recovered documents were bogus.
The recognition given to the police did not mean closure to the case. It meant some investigation still needs to be done to answer questions, primarily—why in Cebu?
