The Ondo State Police Command has uncovered a counterfeit currency printing operation in Kiniso Village, via Ajue, Odigbo Local Government Area of the State.
The operation led to the arrest of one man, the recovery of three bags of fake US dollar notes and other materials believed to be connected to the illicit activity.
The breakthrough followed a complaint lodged on October 28 by a resident of Sabo, Okitipupa, who reported that two men, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on October 25, requesting to exchange dollars for their naira equivalent.
According to the man, he handed over the sum of $6,000, valued at approximately ₦8.6 million to the men.
However, while waiting to receive the naira equivalent, the men allegedly returned the dollars to him, claiming that they did not have sufficient funds to complete the transaction, and subsequently left.
The complainant however discovered, upon closer examination, that the dollar notes returned to him were counterfeit, prompting him to report the incident to the police.
Upon receipt of the complaint, the operatives from Okitipupa Divisional Headquarters immediately commenced discreet investigative activities.
Through intelligence gathering and technical tracking, the team traced one of the men, Peter Desmond, to Kiniso Village.
Acting on credible intelligence received from members of the community, operatives proceeded to the identified location on October 29 where they raided the hideout believed to be used for the production and printing of counterfeit dollar notes intended to defraud unsuspecting members of the public.
During the operation that led to the arrest of Peter Desmond, other occupants of the premises escaped through the perimeter fence.
“A search of the premises led to the recovery of three bags containing counterfeit US dollar notes and a small wooden box, all of which were taken into police custody as exhibits. The arrested suspect has however given useful information that is assisting the investigation,” the command said in a statement on Tuesday, November 3.
The arrested man has been transferred to the State Criminal Investigation Department (SCID) for more investigation and he is expected to be charged to court at the conclusion of the investigation.
