Butuan City, Caraga Region – May 29, 2026 — In a decisive blow against alleged corruption within the ranks of government regulators, the National Bureau of Investigation–Caraga (NBI-CARAGA) arrested a senior official of the Securities and Exchange Commission (SEC)–Butuan Extension Office during a carefully planned entrapment operation inside a coffee shop at SM City Butuan.
The suspect, identified as Atty. Jason C. Tan, Director of the SEC–Butuan Extension Office, was apprehended after allegedly receiving marked money amounting to ₱250,000 from a complainant in exchange for the supposed non-filing of administrative cases.
The operation was carried out at around 9:50 a.m. on May 29, 2026, following weeks of coordination between NBI operatives and complainants representing a lending firm under regulatory scrutiny.
Entrapment Operation Launched from Extortion Complaint
According to the NBI, the case stemmed from a formal complaint filed through SALiGAL Law on behalf of HMW Lending Investors, Inc. (HLI), which alleged that Tan and an unidentified female cohort demanded money in exchange for leniency in relation to possible violations of the Revised Corporation Code and the Lending Company Regulation Act of 2007.
Investigators said the initial demand reportedly reached ₱650,000, covering the company’s 13 branches in the Caraga Region. The amount was allegedly negotiated down to ₱250,000, with the arrangement purportedly structured so that only ₱80,000 would be officially receipted, while the remaining ₱170,000 would go directly to the official.
The NBI described the scheme as a classic “fixer-style” extortion attempt exploiting regulatory fears of administrative and legal sanctions.
Marked Money and Immediate Arrest
With authorization from NBI-CARAGA leadership and in coordination with SEC central offices in Cebu and Manila, agents prepared marked bills treated with ultraviolet powder for tracking purposes.
During the transaction at SM City Butuan, Tan allegedly arrived aboard a gray Toyota Innova and accepted the marked money from a representative of the complainant. As soon as the exchange was completed, NBI operatives moved in and arrested him in flagrante delicto.
Recovered from the suspect were seven ₱1,000 marked bills, six ₱500 marked bills, and an Apple iPhone allegedly used during the transaction.
The arrest formed part of the NBI’s intensified anti-corruption drive under Director Melvin Matibag, who has ordered aggressive action against fixers, extortionists, and corrupt officials within government agencies.
NBI: Anti-Corruption Drive Intensified
In a statement, the NBI emphasized that the operation aligns with its broader campaign to “cleanse government institutions of undesirable elements” and restore public trust in regulatory agencies.
Officials said the bureau is working closely with partner agencies, including the SEC, to ensure accountability while protecting institutional integrity.
The NBI also urged the public and business sector to immediately report any similar extortion attempts, stressing that complaints will be acted upon swiftly and discreetly.
SEC Places Official Under Preventive Suspension
Following the arrest, the SEC confirmed that Tan has been placed under preventive suspension pending investigation, as internal and criminal proceedings move forward.
The commission said it is coordinating fully with investigators, emphasizing that it does not tolerate misconduct among its personnel and remains committed to safeguarding its credibility.
Criminal Charges Filed
Tan is set to face inquest proceedings before the City Prosecutor’s Office of Butuan City for multiple charges, including:
- Robbery with Intimidation of Persons (Article 294, Revised Penal Code)
- Direct Bribery (Article 210, Revised Penal Code)
- Violation of Section 3, Republic Act 3019 (Anti-Graft and Corrupt Practices Act)
- Violation of Section 7 in relation to Section 11, Republic Act 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees)
Authorities said further investigation is ongoing to identify possible accomplices, including the alleged unidentified female cohort mentioned in the complaint.
Call for Public Vigilance
The NBI-CARAGA reiterated its appeal to the public to remain vigilant and report corruption-related activities.
“Public cooperation remains critical in dismantling extortion schemes that exploit fear of regulatory action,” the agency said.
As the case moves forward, investigators say the arrest serves as a strong warning that even high-ranking officials are not beyond the reach of the law in the government’s intensified anti-corruption campaign.