Franco Mabanta, founder of Peanut Gallery Media Network (PGMN), was arrested in an entrapment operation by the National Bureau of Investigation (NBI) on Wednesday, officials said.

Mabanta is accused of demanding ₱350 million in a blackmail scheme, with ₱75 million reportedly paid upfront. Photos circulating online showed Mabanta facing cash stored in a suitcase.

NBI Director Melvin Matibag said that further details would be released after Mabanta is submitted to inquest proceedings, a legal process in which agents determine whether probable cause exists to file charges following a warrantless arrest.

“Details will be given after he is submitted to inquest proceedings,” Matibag told DAILY TIRBUNE.

Mabanta declined to comment, saying he would first consult with his lawyers.

According to sources, former House Speaker Martin Romualdez was the alleged target of the ₱350 million scheme, which involved videos purportedly linking him to a flood control controversy.