Man Confesses to Stealing P1.15M Company Funds in Makati
A man was arrested in Makati City after admitting to stealing P1.15 million from a company’s funds along with a partner, local authorities said. The case unfolded after the stolen money had been missing since Sunday afternoon, sources said.
The suspect, known only as “Rendon,” arrived at the Makati City Police Station Poblacion Substation last Monday. He was accompanied by two agents from an online payment company and initially reported a robbery, according to police statements.
Failed Escape and Confession
While police officers were having lunch and attending to the robbery report, Rendon reportedly tried to flee the station. However, he was quickly caught by one of the online payment company’s agents, preventing his escape.
Once back in custody, Rendon voluntarily admitted that his earlier robbery claim was false. He confessed that he and his accomplice, alias “Estacio,” conspired to steal more than one million pesos from company funds.
Recovery of Stolen Cash
Rendon revealed that he had hidden his share of the stolen money, amounting to P370,300, inside his home. Accompanied by both police personnel and the online payment company’s agents, authorities recovered a backpack containing the hidden cash from his residence.
Following his arrest, Rendon was taken into custody at the Makati City Police Station. He is now awaiting charges before the city prosecutor for violating Article 310 of the Revised Penal Code, which deals with qualified theft.
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