P56M worth of suspected cocaine recovered off Puerto Princesa

A bag carrying P56 million worth of suspected cocaine was recovered off the coast of Barangay Bagong Bayan, Puerto Princesa City.

According to the Philippine Coast Guard on Saturday, the bag was recovered by a resident who found the item while onboard his fishing vessel on October 6.

The bag, which contained nine rectangular black packages labeled “?B Bugatti,” was immediately turned over to the Coast Guard Sub Station (CGSS) Bagong Bayan upon his return to shore on October 9.

Initial inspection showed the nine packages contain cocaine hydrochloride, weighing approximately 10 kilograms with an estimated market value of P56 million.

The contraband has since been turned over to the Philippine Drug Enforcement Agency (PDEA) for further testing and documentation. — Jiselle Anne Casucian/VBL, GMA Integrated News