The money, which was placed inside a bag, was in the possession of an employee of the money-changing shop, who just withdrew the amount from a nearby bank.
Wilson Sabellano, 27, single, of Saint Jude Acres Subd., barangay Bulacao, this city, an employee of Nikko Cebu Money Changer, told the Theft and Robbery Section that he withdrew the money on instruction of the firm's owner.
At around 11 a.m. yesterday, Sabellano said he was instructed by the owner of the shop, Corazon Yarcia, to get the money at RCBC. However, when he arrived at the bank, a bank employee told him that they were still preparing the money.
"Diha ra ko sulod sa bangko nga nagpaabot sa kwarta kay nag-andam pa man ang taga bangko," Sabellano told TRS investigators.
According to Sabellano, after more than half an hour of waiting, he was informed that the money was ready.
Sabellano put the money of different denominations inside a black bag.
He told police that he was riding his motorcycle from the bank on his way to their shop inside the Mango Square.
When he arrived at parking area of Mango Square, a man, whom he described was in his early thirties, pointed a gun at his head and announced a hold-up.
"Ambi imong dala nga bag ug walay lihok kay tulis ni," Sabellano quoted the robber.
Sabellano said that he tried to fight off the robber, but the man fired two shots to the air that forced him to run for safety and look for a guard.
"Nabungog ko ug lain na akong panan-aw, mao to nga midagan ko aron pagpangita ug guwardiya apan wala koy nakita," Sabellano added.
The robber took bag containing the money, which Sabellano had dropped, and hurriedly walked to his companion who was waiting onboard a motorcycle.
Sabellano said he was alone when he withdrew the money.
A witness told police investigators that he noticed a man standing near an electric post, who probably acted as look out.
Police said the robbery took place in less than five minutes.
Criminal Intelligence and Investigation Branch chief, Supt. Paul Labra said some witnesses have identified a certain Francisco Mancao Ybanez from their rogues' gallery as the one who robbed Sabellano.
Labra said the group of Ybanez was tagged as responsible of the robbery incident in Talisay City last week also victimizing a money-changer.
Theft and Robbery Section chief, Supt. Ambrosio Ibones, on the other hand, said they are still gathering statements from witnesses in the area.
Cebu City police director, Supt. Melvin Gayotin said he directed Labra and Ibones to closely coordinate and tap all resources for the immediate solution to the robbery.
Last year, at least three money-changers were robbed.