Laoag bank loses P.5M to robbers

LAOAG CITY – A local branch of a large commercial bank that is mainly involved in money transfer and patronized by overseas Filipinos was robbed of half a million pesos here last week most of which are remittances from abroad.

Ruben Ramos, manager of the LBC Bank – Laoag branch, told newsmen robbers entered the bank by destroying the padlock at its backdoor.

He said he found the bank in disarray when he reported for work on Oct. 3. The thieves forcibly opened the bank vault which they emptied of cash in the amount of close to half a million pesos, he said. – Teddy Molina