A director of the Securities and Exchange Commission (SEC) assigned to the Butuan Extension Office was arrested by the National Bureau of Investigation (NBI) in an entrapment operation over an alleged P250,000 extortion attempt from a private corporation, as reported by BusinessWorld .
According to the NBI statement on Wednesday, the arrest stemmed from a complaint filed by the counsel of the private firm. The operation was conducted after validation of the complaint, leading to the entrapment of the SEC official.
The incident highlights ongoing efforts by law enforcement to address corruption within government agencies. The SEC has yet to issue an official statement regarding the arrest of its personnel.