PALAWAN – A man in Palawan sought help from the local police after two people claiming to be treasure hunters in Bataraza swindled P120,000 from him.

The Palaweño "budol-budol" victim said he personally knows the suspects.

According to him, the suspects were looking for a gold bar buyer.

The alleged gold bar has the word "Cambodia" on it. The suspects allegedly drilled the gold bar in front of him to show that it is not fake.

They also had the gold bar scrutinized by a pawnshop in the area. The pawnshop said it contained 18-22 karat gold. The suspects asked him to look for a buyer so he could get a commission.

Days passed and the "treasure hunters" spoke to him again and asked him to produce P100,000 and they will give him the gold bar.

He, however, did not receive any gold bar after giving the money. The scammers said they were still going to get the gold bar in Bataraza.

Another P20,000 was asked from him. This time he was given a gold bar, but he later discovered later the gold bar was fake.

The victim reported this to the local police, and on Wednesday, the suspect named Raymund Ruel Rapiz was arrested in an entrapment operation. His partner is still at large. - with a report from Rex Ruta, ABS-CBN News