Senior Superintendent Benjardi Mantele, Caloocan Police chief, identified the suspect in a presentation before the media as Cesar Saballa, of Barangay Bangkal, Makati.
It could not be clearly established initially if Saballa was a member of either the police or the military. Probers gathered that the suspect had a good eye for quality guns. Saballa was caught in possession of an imported Gold Cup caliber .45 pistol valued at an estimated P85,000, allegedly the same gun he used in the heist.
Saballa was subsequently presented before Chief Superintendent Marcelino Franco Jr., Northern Police District Office (NPDO) chief and National Capital Regional Police Office (NCRPO) chief Director Ricardo de Leon.
Saballa was cornered after a brief chase at around 2:45 p.m. Monday along 5th Avenue in Caloocan City.
Victim Joseph Galbilao, 39, office personnel of Serv-Aces, Inc. located on Rizal Avenue Extension, said the cash he had been carrying was intended for the Tombo Import Export, a trading firm.
PO1 Tirso Roncales and PO2 Reynaldo Codog of the city police mobile patrol unit arrested the suspect.
Records showed Saballa waylaid Galbilao, hitting the latter’s chest with the butt of his gun before grabbing the cash kept in his backpack and warning him: "Wag kang papalag!" He then took a tricycle to get away.
The initially stunned Galbilao said he did not lose heart and gave chase in a tricycle driven by Jesus Blanca, 31, who later told The STAR he would not have gone after the robber had he known Saballa was holding a gun instead of a mere knife.
Later, the police prowl car came their way forcing Saballa to give up and surrender.