Coast Guard finds 4 boxes filled with P32-M cash

The Philippine Coast Guard (PCG) in Northern Mindanao has blocked the transport of four sealed cardboard boxes that were found to contain banknotes amounting to around P32 million.

Col. Leovigildo Panopio, PCG-10 district commander, said four men tried to board a boat to Cebu with the boxes which were sealed with packaging tape.

The four men allegedly told a security guard at the port that the boxes contained documents. But the scanner showed that there were other items inside the boxes aside from documents.

Panopio said they found the banknotes, which amounted to around P32 million, when they opened the boxes.

Panopio said two of the men claimed to be employees of a bank who were allegedly tasked to bring the money to their cash center in Cebu.

The alleged employees said the cash vault at their bank was already full and the Bangko Sentral ng Pilipinas allegedly would no longer accept their deposit.

As of yesterday afternoon, the bank manager and legal counsel were still at the PCG Northern Mindanao office to shed light on the shipment, Panopio said.

The PCG has intensified security measures in all ports in the wake of the martial law declaration in Mindanao as a result of the Marawi crisis, which enters its sixth week today.

Martial law was declared on May 23 in Mindanao after fighting broke out in Marawi between government troops and the Maute Group.