P3.5 Million Worth of Overpriced Goods Were Seized by DTI and CIDG
LAS PIÑAS – DTI and CIDG seized P3.5-M worth of overpriced basic goods in an entrapment operation at Alabang-Zapote Road, Las Piñas City.
Industry-Fair Trade Enforcement Bureau (DTI-FTEB) headed by Director Ronnel O. Abrenica, together with Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) led by Police Colonel Erwin Dayag in Alabang-Zapote Road, Las Pinas City, last April 30, they seized almost half a million worth of basic goods.
According to the report of DTI, they recovered more than 6,000 boxes of instant noodle brands (Lucky Me Beef and Chicken) from the two individuals who got arrested. it also found out that the products were being sold online for P9.50 per piece despite the price freeze order in the NCR which is P7.75 per piece.
The confiscated piece of evidence is in the hand of the Anti-Trans National Crime Unit (ATCU) of CIDG for documentation and disposition. Meanwhile, the seized goods are in the custody of the Assistant Vice President of the Legal Department of SM Group of Companies who fully cooperate with the DTI and CIDG in their ongoing investigation.
However, they clarified that SM and aforementioned executives are not related nor involved in the illegal activities of the arrested individuals. Meanwhile, the two will face charges in accordance with Republic Act (RA) No. 7581 or the Price Law as amended by RA 10623, RA 7394 or the Consumer Act of the Philippines, RA 11469 or the Bayanihan Act, and Article 151 in connection with Article 14 of the Revised Penal Code.
“Following President Duterte’s directive, the DTI and its enforcement partners such as the PNP-CIDG and the NBI, are serious about preventing offending individuals and business entities, whether operating on a physical or online platform,” DTI Secretary Ramon M. Lopez emphasized.
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