The authorities raided a safe house of an investment company in Nasipit, Agusan del Norte where they confiscated at least Php 23 million in cash.
The Philippine National Police-Criminal Investigation and Detection Group, Nasipit Municipal Police Station, and the 4th Infantry Division of the Philippine Army launched an operation against FRX Rice Trading Investment, which was allegedly involved in a scam.
In a report from ABS-CBN, the authorities said that they received reports that there were pay outs inside the office of the company.
The police claimed that the investment company violated the Securities Regulation Code of the Philippines.
The authorities failed to arrest employees in the safe house but were able to confiscated millions of money, including three money counting machines and documents.
