SEC director arrested over alleged extortion

MANILA, Philippines – The National Bureau of Investigation (NBI) arrested a Securities and Exchange Commission (SEC) director in an entrapment operation for allegedly extorting money from a private corporation. In a statement issued on Wednesday, the SEC said NBI carried out the operation in coordination with the corporate regulator. READ: SEC pitches whistleblower plan to firm up fight vs scams, illegal acts The Commission placed the official under preventive suspension while authorities continued their investigation. The SEC did not identify the official or disclose additional details about the alleged offense, citing the ongoing investigation. “Operations in the SEC will carry […]...

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