Three alleged bank employees were held by government authorities at the Cagayan de Oro Port Sunday night after trying to transport four styrofoam boxes containing some P32 million in cash reportedly to Cebu.

Based on a report from the Philippine News Agency, the three men arrived at the port at around 8:00pm onboard an unmarked green armored van and immediately asked for porters to unload the boxes.

The Philippine Ports Authority (PPA) Police stationed at the port, who were already on alert due to terror threats, became suspicious of the three men and ordered the boxes to undergo x-ray inspection. It was only then that the PPA police discovered the boxes contained a huge amount of cash. The three men were then held for questioning.

Upon initial interrogation, the three men claimed to be employees of UCPB Velez branch and were transporting the cash to Cebu City.

Government authorities are still conducting further investigation on the matter since it’s very unusual and uncommon practice for banks to physically transport huge amount of money by boat and for the said amount, it’s usually bank-to-bank transaction.

Meanwhile, the Police Regional Office in Central Visayas is now investigating the said report. (LINK)


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