P50-M Worth of Coins, 5 Luxury Cars Discovered in QC Warehouse
The authorities have discovered P50 million worth of coins and 5 luxury cars without plates from a warehouse in Quezon City (QC).
The National Bureau of Investigation (NBI) and the Bureau of Customs (BOC) have reportedly teamed up to raid a warehouse in Quezon City’s Barangay Laging Handa. Based on the police statement, the government officials were taken aback when they discovered sacks of coins worth an estimated P50 million and five luxury cars.
The raid was carried out after the region was supposedly under close monitoring for more than two months, according to the report. When the authorities reached the location, they were confronted with sacks of coins and luxury cars worth an estimated P100 million.
Aside from the sacks, all other coins are plastic-wrapped. The purpose of the sacks of coins has yet to be determined, according to BOC Intelligence Division chief Joel Pinawin.
But, because so many coins come from unlawful gaming, one of the areas they’re looking at is money laundering, said by the authorities. The luxury cars were also found to be with missing license plates and conduction stickers, according to the government personnel.
Authorities shut down and sealed down the area after the raid. Its owners were given 15 days to explain the sacks of coins discovered in their possession, which were considered to be from unlawful activity, as well as the unlicensed luxury cars.
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