OVER P3.5 MILLION WORTH OF OVERPRICED LUCKY ME INSTANT NOODLES SEIZED; GOODS WITH SM

Combined elements of the Department of Trade and Industry and the Philippine National Police have confiscated P3.5 million worth of Lucky Me instant noodles that were being sold online at prices way beyond the DTI price ceiling.

The goods were seized in an entrapment operation conducted last April 30 by the DTI – Fair Trade Enforcement Bureau (DTI-FTEB) headed by Director Ronnel O. Abrenica, together with Philippine National Police–Criminal Investigation and Detection Group (PNP-CIDG) led by Police Colonel (PCOL) Erwin Dayag in Alabang-Zapote Road, Las Pinas City.

The DTI said in its website that the seized goods are now in the custody of the Assistant Vice President of the Legal Department of SM Group of Companies who has undertaken to fully cooperate with the DTI and CIDG in their ongoing investigation.

SM’s official was not named together with two others who have been arrested  It could not be determined however why the SM official was entrusted with the seized Lucky Me instant noodles, although the news release said that the 6,000 boxes of noodles were seized.

The DTI-CIDG Team recovered more than 6,000 boxes of Lucky Me Instant Noodles (Beef and Chicken) which resulted in the arrest two (2) individuals. It was found that the instant noodles were sold online at P9.50 per piece contrary to the issued Price Freeze of Basic Necessities in the National Capital Region (NCR) which is P7.75 per piece.

All confiscated pieces of evidence are now being processed by the Anti-Trans National Crime Unit (ATCU) of the CIDG for proper documentation and disposition.

The arrested suspects , who were not named in the release much like the SM official, will face charges pursuant to Republic Act (RA) No. 7581 or the Price Act as amended by RA 10623, RA 7394 or the Consumer Act of the Philippines, RA 11469 or the Bayanihan Act, and Article 151 in relation to Article 14 of the Revised Penal Code.

DTI Secretary Ramon M. Lopez underscored that, “Following the directive of President Duterte, the DTI and partner enforcement agencies such as the PNP-CIDG and National Bureau of Investigation (NBI), are very serious in going after erring individuals and business establishments, whether operating in a physical or online platform. The utmost protection to the rights, welfare, and safety of consumers is very crucial, especially at this time.”

“The DTI requests for the cooperation of the public in reporting incidents of overpricing and hoarding in the market. Those found violating will be dealt with to the fullest and highest extent of the law,” seconded DTI-Consumer Protection Group (CPG) Undersecretary Atty. Ruth B. Castelo.