CEBU CITY – A 21-year-old businessman here was robbed of more than P2 million in cash and jewelry on New Year’s Eve.
Police identified the victim as Remark Broa.
Broa said he arrived home around midnight on Dec. 31 and closing the gate when three men appeared and ordered him to board his vehicle.
The suspects taped his month and hands inside the vehicle and seized a paper bag with P2.5 million in cash, assorted jewelry worth at least P800,000, a P36,000 cellphone, and Automated Teller Machine cards.
The robbers fled on a motorcycle and the victim reported the incident to the Guadalupe Police Station and showed video footage of the robbery.
Police Lt. Col. Maria Theresa Macatangay, deputy director for operations of the Cebu City Police Office, said they are conducting further investigation.
Macatangay said the victim suspected that the robbery was the handiwork of a business rival.
“That was what he initially said. He has some rivals in the business and he suspected them as the ones who were behind the robbery,” Macatangay said.
Macatangay said investigators have leads on the identity of the suspects but she refused to divulge further details.