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Saturday, October 13, 2007 10:44:05 PM
From Today's Manila News:
US help sought in $3-trillion ‘Fed notes’ found in Cebu
By Jhunnex Napallacan
Visayas Bureau
Last updated 05:10pm (Mla time) 10/13/2007
US help sought in $3-trillion ‘Fed notes’ found in Cebu
Close this CEBU CITY, Cebu -- The police on Friday recovered a chest containing what appeared to be US Federal Reserve notes and other certificates with a face value of at least $3 trillion on the national highway in Argao town, Cebu.
Senior Superintendent Carmelo Valmoria, Cebu provincial police director, said they were coordinating with the US Embassy to determine the authenticity of the notes. Federal Reserve Notes are legal tender in the US.
Valmoria said people in the area saw a Caucasian-looking man on board a southbound sports utility vehicle leaving the chest on the national highway at Sitio (sub-village) Prensa, Talaga, Argao, about 66 kilometers south of Cebu City.
A few minutes later, they also saw four Asian-looking guys (three males and a female) riding a car along the same highway.
"It (chest) was dropped off along the road, but we suspect, the second car was about to pick it up," Valmoria said.
Valmoria said the police got the plate number of car from witnesses but he refused to reveal it as the police were still trying to track down the vehicle.
The people who witnessed the drop off suspected that the chest contained an explosive or a bomb so they informed the barangay (village) officials who, in turn, called the police.
Argao Police chief Senior Inspector Teodulfo Manatad and his men went to the area and picked up the chest.
Valmoria went to Argao to get the chest and brought it to their headquarters in Cebu City.
The chest, which is 27.3 inches long, 10 inches wide, and 14.3 inches in height, has the markings: Federal Reserve Bank, Cleveland, Ohio, series of 1934.
The actual amount could not be determined as of press time since they only checked two of the chest's compartments, Valmoria said.
He refused to speculate on the motive of the people responsible for leaving the chest.
"I think we will wait for the US Embassy to make the analysis. We will also report this to the Bangko Sentral ng Pilipinas," he said.
An initial inventory showed that one of the chest's compartments contained 200 Federal Reserve Notes valued at $1 billion each while the other compartment contained various certificates, including bank certificates.
But Valmoria said the police would also determine the identities of the people involved in the incident.
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