Jay Hilotin, Senior Assistant Editor
Two men were arrested by the National Bureau of Investigation (NBI) for their involvement in the “black dollar” scam, where they tricked victims into purchasing chemicals to supposedly convert counterfeit currency into real US dollars. The suspects, Khan Fonkam and his brother Awa Fonkam, both from Cameroon, were apprehended during a sting operation in Bonifacio Global City (BGC), Taguig.
The scam began when a man posing as “Dr. Paul” approached a victim, claiming to have a chemical formula that could convert fake bills into real currency. The victim, after being duped into paying Php400,000 ($6,844) for the chemicals, discovered only black paper inside the wrapped money. The suspects demanded more money, but the victim grew suspicious and reported the scam to the NBI.
The suspects face multiple charges, including estafa (fraud) and illegal possession of counterfeit money, under the Revised Penal Code and Cybercrime Prevention Act.
