The Supreme Court (SC) upheld the prison sentence for a man charged with illegal possession and use of fake banknotes.
SC Second Division Associate Justice Jhosep Y. Lopez wrote the decision that denied the petition of Allan Gacasan, who challenged the rulings of the Court of Appeals (CA) and the Regional Trial Court (RTC).
In a buy-bust operation held in Bukidnon on 10 November 2018, the Philippine National Police Criminal Investigation Detection Group (PNP-CIDG) arrested Gacasan after selling fake banknotes to an undercover CIDG agent.
Gacasan was caught in possession of 100 pieces of fake 1000-peso bills and 25 pieces of fake 500-peso bills. The said banknotes were confirmed to be counterfeit upon examination by the Bangko Sentral ng Pilipinas (BSP).
The RTC convicted Gacasan for the crime of illegal possession and use of false banknotes under Article 168 of the Revised Penal Code, as amended. The CA affirmed the conviction, but Gacasan subsequently appealed the decision before the SC.
The BSP has the exclusive power and authority to issue coins and banknotes for circulation in the Philippines.
To protect and promote the integrity of Philippine currency, the BSP conducts joint anti-counterfeiting operations with law enforcement agencies, such as the CIDG, the primary investigation arm of the PNP.
Since 2010, the BSP has conducted 129 anti-counterfeiting operations that led to the arrest of 212 suspects and the confiscation of more than 46,100 pieces of counterfeit Philippine banknotes with a notional value of PHP35,427,000.00.
The BSP has filed 194 cases related to counterfeiting, 78 of which have been concluded, with 76 cases or 97.4 percent resulting in the conviction of the accused.
Pursuant to its consolidated rules and regulations on currency notes and coins, possession and use of counterfeit money is punishable by imprisonment of between five to 10 years. “In case the Revised Penal Code provides for a greater penalty, then that penalty shall be imposed,” according to BSP.