The Bangko Sentral ng Pilipinas (BSP) denied releasing any statement approving investment scheme and any related activities of Kapa-Community Ministry International, Inc. (KAPA).
The said clarification was issued in view of reports falsely claiming that the BSP has a “green light” on KAPA’s operation.
The statement emphasized that KAPA is not a BSP-supervised entity in any way.
“The Bangko Sentral ng Pilipinas (BSP) advises the public that it has not released any statement or any issuance concerning the Kapa-Community Ministry International, Inc. (KAPA) or any of its affiliates,” advisory said.
Early this year, the Securities and Exchange Commission (SEC) ordered revocation of KAPA’s certificate of incorporation, due investment activities even without the proper license in doing so.
SEC pointed out that KAPA bears the characteristics of a Ponzi scheme and a large fraud activity.
