Butuan city: The National Bureau of Investigation (NBI) has announced the arrest of Jason Tan, a suspended government lawyer from the Securities and Exchange Commission (SEC)-Butuan Extension Office, for allegedly demanding PHP650,000 from a corporation in exchange for not filing administrative charges.

According to Philippines News Agency, the NBI's Caraga regional office conducted an entrapment operation over the weekend that led to the arrest of Tan. The operation was executed in close collaboration with the SEC, which is keen on safeguarding its reputation from being tarnished by unethical behavior within the commission. The NBI has encouraged citizens and businesses affected by similar schemes to report such incidents promptly for swift action.

The complaint was filed by a lawyer representing HMW Lending Investors, Inc. (HLI), who alleged that Tan, along with an unidentified female accomplice, demanded money to prevent the filing of administrative cases related to alleged violations of the Revised Corporation Code and the Lending Company Regulation Act of 2007. Initially, Tan demanded PHP650,000, which covered HLI's 13 branches in the Caraga Region. The amount was later negotiated down to PHP250,000, with only PHP80,000 slated for official receipt and the remaining PHP170,000 allegedly going directly to Tan.

As the investigation continues, the SEC has placed Tan under preventive suspension. He is set to appear for inquest proceedings before the City Prosecutor's Office of Butuan City on charges of robbery with intimidation of persons, direct bribery, and graft and corruption.