The President of the NYC Correction Officers Union was arrested by the FBI early Wednesday morning.

Norman Seabrook was taken into custody at his Morris Park home without incident, according to the FBI’s New York office.

According to multiple reports, his arrest grew out of an ongoing investigation into investments made with the union’s pension money.

Allegations have been made that several high ranking law enforcement members had been accepting kickbacks from business owners.

U.S. Attorney Preet Bharara is expected to announce charges against Seabrook at a news conference this afternoon.

The FBI also arrested a hedge-fund financier who lives in Lawrence, NY.

The two are charged with one count of honest services wire fraud and one count of conspiracy to commit honest services wire fraud. They will appear Wednesday in federal court in Lower Manhattan.

The feds claim that Seabrook received kickbacks for funneling about $10 million from the union’s pension fund to Platinum Partners, the Times reported.

(YWN World Headquarters – NYC)