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Manila Bulletin devider Philippines devider Four men selling fake gold bars worth P15 M nabbed in CDO, alleged fake items seized

Four men selling fake gold bars worth P15 M nabbed in CDO, alleged fake items seized

Published Jun 5, 2022 11:08 am

CAGAYAN DE ORO CITY -- Four men selling fake gold bars were arrested by the police through an entrapment operation at Capistrano Complex, Barangay Gusa in this city on Saturday, June 4.

The City Mobile Force Company (CMFC) of Cagayan de Oro arrested four men selling fake gold bars through an entrapment operation at Capistrano Complex, Barangay Gusa in this city on Saturday, June 4. The police operating personnel recover two pieces of alleged gold bars worth more or less Php15,000,000. (Photo courtesy of Cagayan de Oro City Police Office)

The Cagayan de Oro City Police Office (COCPO) in a statement on Sunday, June 5, identified the suspects as Rey Naranjo, 58, of Barangay Indahag in this city; Junalie Licawan, 58, of Tagoloan town, Misamis Oriental; Jerson Liquinan, 28, and Jimwel Homonlay, 33, both from Bukidnon province.

A certain Mitchel Naranja of Opol town in Misamis Oriental has lodged a complaint to the City Mobile Force Company (CMFC) of Cagayan de Oro and sought assistance after he was defrauded of more or less P500,000 in exchange for a gold bar which turned out to be fake after thorough examination sometime in April this year.

The police initial investigation revealed that Naranja, the victim, was recently contacted by the suspects and was offered P1,800,000 worth of gold bars. The victim pretended to grab the offer and asked for help from the authorities who then set up an entrapment operation.

The police obtained information, through their initial investigation, that the arrested suspects are alleged members of Ganghaan Landless Association (GALA) that sells gold bars, particularly at the eastern part of this city and the provinces of Misamis Oriental and Bukidnon.

The initial investigation also showed that the said association has contacts of gold bars suppliers from Kitaotao town and Malaybalay City in Bukidnon.

There were other five individuals, the police said, who are involved but are still at-large. The police will be conducting further investigation on the incident.

The police operating personnel recovered two pieces of alleged gold bars worth more or less P15,000,000.

The suspects are currently detained at the custodial facility of CMFC and waiting for appropriate cases to be filed against them.

Related Tags

gold bars fake Cagayan de Oro City
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