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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.
