The suspect, Won Suk Chang, 36, admitted masterminding the robbery at the office of Tony Lim at Unit 609 Lansdale Tower in Mother Ignacia St., Barangay Paligsahan, said Superintendent Cesar Binag, commander of Station 10 of the CPD in Kamuning.
However, only P29,000 of the loot was recovered from Won.
The South Korean national as well as 16 other people arrested recently by the National Capital Regional Police Office for various criminal offenses were presented yesterday before Metro police chief Deputy Director General Reynaldo Velasco.
"The arrest of these suspects is proof that we in the PNP, through the leadership of Director General Hermogenes Ebdane Jr., have succeeded in our over-all effort in keeping Metro Manila peaceful and orderly," said Velasco. "Our focus during the Bush visit was the security measures, but we were never remiss in our responsibility to our constituents."
Velasco said the no let-up hot pursuit operations conducted by Binag resulted to the arrest of Won at Barangay San Jose in Antipolo City at 4:20 p.m. Wednesday. Won surrendered after a brief chase to a CPD team composed of Inspector Frederick Obar, SPO4 Reynato Resurreccion, PO3 Julieto Borja and PO2 Fernando Tan.
Won then led the CPD team to his residence at the 4th floor of the PG Condominium, West Avenue in Quezon City, where the P29,000 was recovered. The suspect claimed they only took P500,000 from the vault of Lim, who reported that he lost P720,000 to the robbers.
Binag said Won and his accomplices, John Taub and Allan Sausa, barged inside the office of Lim, announced the robbery and hogtied and gagged him and his two secretaries before emptying the vault of cash. The victims were herded to the comfort room.