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Manila Bulletin devider Philippines devider Metro Manila devider Man arrested for stealing P1.1-M company funds in Makati

Man arrested for stealing P1.1-M company funds in Makati

Published Aug 6, 2025 11:19 am  |  Updated Aug 6, 2025 03:33 pm
The bag used by alias Rendon to keep his share of the stolen P1,156,570.
The bag used by alias Rendon to keep his share of the stolen P1,156,570.
A man was arrested by the police for stealing a total of P1,156,570 worth of company funds in Barangay Poblacion, Makati City, the Southern Police District (SPD) said.
The police identified the suspect as alias Rendon.
Based on the police investigation, Rendon, together with two other individuals identified as alias Sarmiento and alias Caburnay, went to the Investigation and Detective Management Section (IDMS) of the Makati City Police where Rendon claimed that he was a victim of theft along Santiago Extension.
When the attending officer momentarily went out of the office, Rendon suddenly fled without warning, which prompted Caburnay to pursue and apprehend him.
Upon returning, Rendon admitted that he fabricated the earlier robbery report, and revealed that he and another individual identified as alias Estacio, had conspired to steal the company funds worth P1,156,570.
He also confessed that he had hidden his share of the stolen funds at his residence.
A police operation was subsequently launched, resulting in the recovery of the stolen money worth P370,300.
Rendon was placed under police custody and is facing charges of qualified theft.
Meanwhile, a manhunt operation is still ongoing for the arrest of Estacio and the recovery of the rest of the stolen funds.
Makati City Police OIC Col. Reycon Garduque emphasized that the swift resolution of the case was a result of diligent investigative work and inter-agency cooperation. He also reaffirmed the station’s commitment to upholding law and order through ethical and decisive policing.
SPD director Brig. Gen. Randy Arceo also lauded the Makati City Police for their efforts.
“The Southern Police District commends the professionalism and swift action taken by the Makati City Police in resolving this incident. The prompt recovery of stolen assets and the arrest of the suspect is a testament to our sustained efforts to combat criminality and strengthen public trust. We remain steadfast in our mission to ensure that justice is served and that peace and order prevail in our communities," Arceo said.

Related Tags

Qualified theft robbery makati police spd metro news makati city
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