Police Bust Suspected Fake Dollar Factory In Ondo

Ondo State Police Command has uncovered a suspected counterfeit United States (US) dollar printing factory in Kiniso Village, via Ajue, Odigbo local government area.

It arrested one suspect, recovered three bags of suspected counterfeit dollar notes.

The operation followed a complaint by a resident of Sabo, Okitipupa, who alleged that he was defrauded of $6,000, estimated at N8.6 million, in a foreign exchange transaction by two men.

According to the police, the victim reported on 28th October that the suspects, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on 25th October and requested to exchange US dollars for their naira equivalent.

The complainant said he handed over $6,000 to the men but, while waiting to receive the naira equivalent, they allegedly returned the dollars, claiming they did not have enough money to complete the transaction, and left.

He later discovered that the dollar notes he had been returned were counterfeit and subsequently reported the incident to the police.

In a statement issued on Tuesday, the Police Public Relations Officer, DSP Abayomi Jimoh, said operatives of the Okitipupa Divisional Headquarters immediately commenced discreet investigations following the complaint.

‎He said intelligence gathering and technical tracking led the police to one of the suspects, Peter Desmond, at Kiniso Village, via Ajue, in Odigbo Local Government Area.

‎Jimoh said the operatives, acting on information from community members, raided the suspected hideout on 29 October, where the counterfeit currency printing operation was allegedly underway.

‎“During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence,” the statement said.

‎A search of the premises, according to the police, led to the recovery of three bags containing suspected counterfeit United States dollar notes and a small wooden box, which were seized as exhibits.

‎The police spokesman added that the arrested suspect had provided useful information to assist the ongoing investigation.

‎He disclosed that the Commissioner of Police, Felix Ohagwu, has directed that the investigation be intensified to apprehend other suspects, uncover the full extent of the alleged counterfeit currency network and prosecute those found culpable.

‎The command also cautioned members of the public against engaging in suspicious foreign exchange transactions with unverified individuals, urging them to authenticate foreign currency before accepting it and to report suspicious activities to the nearest police station.