By CHRIS V. PANGANIBAN
SAN FRANCISCO, Agusan del Sur–The National Bureau of Investigation (NBI) in Caraga has arrested the director of the Securities and Exchange Commission’s Butuan Extension Office in an entrapment operation over an alleged ₱250,000 extortion attempt.
The arrest was carried out by operatives of the NBI-Caraga Regional Office at around 9:50 a.m. on May 29 at a coffee shop inside SM City Butuan, , according to a press release issued by the NBI only on Oct. 3, although the operation took place on May 29, 2026
According to the NBI, the operation stemmed from a complaint filed by SALiGAL Law, counsel for HMW Lending Investors Inc. The complainant alleged that the SEC official and an unidentified female cohort demanded money from the lending company in exchange for the supposed non filing of administrative cases involving alleged violations of the Revised Corporation Code and the Lending Company Regulation Act of 2007.
The NBI said the initial demand was ₱650,000, supposedly covering HMW Lending Investors’ 13 branches in the Caraga region. The amount was later allegedly reduced to ₱250,000.
Of the negotiated amount, only ₱80,000 was supposed to be covered by an official receipt, while the remaining ₱170,000 was allegedly intended to go directly to the SEC official.
After securing authority from the officer in charge of NBI-Caraga, and in coordination with SEC offices in Cebu and Manila, NBI agents prepared marked bills dusted with ultraviolet powder for the entrapment operation.
The suspect allegedly arrived at the meeting place aboard a gray Toyota Innova and was caught red-handed receiving the marked money, and was immediately arrested by NBI agents Recovered during the operation were seven marked ₱1,000 bills, six marked ₱500 bills, and an Apple iPhone allegedly used in the transaction.
The NBI said the operation was conducted in line with Director Melvin Matibag’s anti-corruption campaign and his directive for the bureau to help other government agencies cleanse their ranks of fixers, extortionists, and corrupt personnel.
The bureau also said the operation was coordinated with the SEC, whose leadership had expressed concern over protecting the agency’s reputation from the actions of “bad actors” within the commission.
The SEC has reportedly placed the official under preventive suspension pending investigation.
The suspect was set to undergo inquest proceedings before the Butuan City Prosecutor’s Office for possible charges of robbery with intimidation of persons under Article 294 of the Revised Penal Code, direct bribery under Article 210 of the same code, violation of Section 3 of Republic Act No. 3019 or the Anti-Graft and Corrupt Practices Act, and violation of Section 7 in relation to Section 11 of Republic Act No. 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees.
The NBI urged citizens and businesses who may have been subjected to similar extortion schemes to report such incidents to the nearest NBI office.
