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QUEZON CITY, May 8 (PIA) --Over an estimated Php 3,500,000.00 worth of basic goods were seized in an entrapment operation conducted by the Department of Trade and Industry–Fair Trade Enforcement Bureau (DTI-FTEB) with Philippine National Police–Criminal Investigation and Detection Group (PNP-CIDG) in Alabang-Zapote Road, Las Pinas City on April 30, 2020.
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In the said buy bust operation, the DTI-FTEB headed by Director Ronnel O. Abrenica together with PNP- CIDG led by Police Colonel Erwin Dayag, the team recovered more than 6,000 boxes of Lucky Me Instant Noodles (Beef and Chicken) which resulted to the arrest two (2) individuals.
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It was found out that the instant noodles were sold online at P9.50 per piece contrary to the issued Price Freeze of Basic Necessities in the National Capital Region (NCR) which is P7.75 per piece.
The seized goods were allegedly the property of the Assistant Vice President of the Legal Department of SM Investment Corporation at the SM Southmall, a matter now being investigated by the CIDG.
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All confiscated pieces of evidence are with the Anti-Trans National Crime Unit (ATCU) of the CIDG for proper documentation and disposition.
Arrested suspects will face charges pursuant to Republic Act (RA) No. 7581 or the Price Act as amended by RA 10623, RA 7394 or the Consumer Act of the Philippines, RA 11469 or the Bayanihan Act, and Article 151 in relation to Article 14 of the Revised Penal Code.
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The seized goods were allegedly the property of the Assistant Vice President of the Legal Department of SM Investment Corporation at the SM Southmall, a matter now being investigated by the CIDG.
Arrested suspects will face charges pursuant to Republic Act (RA) No. 7581 or the Price Act as amended by RA 10623, RA 7394 or the Consumer Act of the Philippines, RA 11469 or the Bayanihan Act, and Article 151 in relation to Article 14 of the Revised Penal Code.