The Securities and Exchange Commission (SEC) has brought Kapa-Community Ministry International, Inc. (KAPA) before the Department of Justice (DoJ), Tuesday afternoon, for criminal charges.
The said action was done, a week after the announcement made by SEC Chairman Emilio Aquino.
The criminal complaint against KAPA along with its founder and president Joel A. Apolinario, trustee Margie A. Danao and corporate secretary Reyna L. Apolinario, among others, for perpetrating an investment scam in violation of Republic Act No. 8799, or the Securities Regulation Code (SRC).
The commission also implicated Marisol M. Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista and Rene Catubigan for promoting the investment scam.
Officials assure the public that more respondents will be included soon, as it identifies other persons who have participated in the unlawful public offering and/or selling of securities by KAPA, though the said organization keeps on denying the accusation.
The Commission found KAPA to have enticed the public to “donate” at least P10,000 in exchange for a 30 percent monthly “blessing†or “love gift†for life, without having to do anything other than invest and wait for the payout.
Prior to this, the commission issued an advisory against KAPA as early as March 2017, cease and desist order on February 14 and an order of revocation of the nonstock corporation’s registration on April 3, 2019.
In the interest of affected investors, the Commission, through the Anti-Money Laundering Council, obtained a freeze order from the Court of Appeals on June 4 to preserve assets linked to KAPA.
