Unidentified men shot dead the deputy chief of police of Cordova town in Cebu Thursday morning.

Police Master Sgt. Deogenes Carrillo was driving his white pick-up on his way home when ambushed by gunmen on board a motorcycle in Barangay Poblacion.

Authorities recovered eight spent bullets at the crime scene.

According to Cordova police chief Police Capt. Efren Diaz Jr., he last spoke to Carrillo early Thursday morning before he left the Cordova Police Station. He was in the Poblacion area allegedly to collect from people who took loans in his money lending business.

Diaz said they are investigating if the motive in the officer's death had something to do with his money lending business.

They are also checking CCTVs around the area to look for additional witnesses.

Meanwhile, Police Lt. Col. Eloveo Marquez, spokesperson of the Cebu Provincial Police Office, said Carrillo’s name is in their list of officers allegedly involved in illegal drugs.

They are also looking into the possibility that this could be a motive.

Prior to his assignment as deputy police chief, Carrillo served as member of the Regional Intelligence Division, Provincial Intelligence Branch and was part of the police force in Naga City, Cebu.

His family has refused to comment on the allegations and instead described him as a man of honor. They are also asking police to speed up their investigation and catch the perpetrators.