According to the boys, aged 14 and 15, they were arrested by five men wearing civilian clothes claiming to be policemen for smoking marijuana inside a vacant lot in Intramuros.
The students, who are graduating this March, requested that their names be withheld for the meantime to protect their privacy.
The boys said they were taken to the Intramuros police community precinct where they were threatened with jail and charged with illegal drugs possession unless they each come up with P15,000. The boys were told by the police to call up their parents.
The alleged extortion issue immediately spread around the school campus and is now being talked in whispers among the studentry.
Though the students hailed the release of their colleagues, they lashed out at the extortion activities of policemen at the Intramuros police community precinct.
The arresting officers also warned the parents that their children may not graduate if they face charges. After haggling, the boys were released without charges for P5,000 each.
Manila Police District (MPD) director Senior Superintendent Danilo Abarzosa immediately ordered an investigation.
News of the incident spread in the school campus. Because of the episode, students are worried that they might be victimized by rogue policemen.
"We fear the police might indiscriminately arrest graduating students and booked them with trumped up charges," one student told The STAR.