The Department of Justice (DOJ) has filed accuse adjoin Kapa-Community Ministry International (Kapa), its architect and admiral in assorted courts afterwards actuality tagged by the Balance and Barter Commission (SEC) as a perpetrator of advance fraud.
Kapa has been accused of perpetrating a Ponzi scheme, an advance affairs that offers impossibly aerial allotment and pays investors application the money contributed by added investors.
In a filing at Bislig City Regional Trial Court (RTC) Branch 29, the DOJ accused Kapa of “willfully, unlawfully and criminally” agreeable in the affairs or alms for auction or administration of balance to the accepted accessible after a allotment account appropriately filed with and accustomed by the SEC.
The DOJ additionally answerable Kapa architect and admiral Joel Apolinario, trustee Margie Danao and accumulated secretary Reyna Apolinario of actionable Sections 8(8.1), 26.1 and 28 of the Balance Regulation Code.
Also accusable were Kapa promoters Marisol Diaz, Adelfa Fernandico, Moises Mopia and Reniones Catubigan for violation.
The DOJ added answerable Diaz afore the Rizal RTC for abuse of Section 28. It filed agnate accuse adjoin Mopia and Fernandico with the Quezon City RTC Branch 93.
So far, the SEC has absolute that a accreditation of arrest was issued by the Quezon City RTC on Dec. 2, 2019, adjoin Fernandico, the SEC said in a account on Thursday.
“We are committed to see the bent affairs adjoin Kapa through to the end,” SEC Chair Emilio Aquino said. “We will accompany anybody complex in the advance betray that played calamity with the approaching of our adolescent Filipinos, including those who abide to attack to bolster it.”
Upon award of acceptable apparent cause, the board may adjustment the arrest of the accusable admiral and promoters of Kapa, in accordance with the Revised Rules of Bent Procedure.
The bent affairs stemmed from the complaint filed by the SEC on June 18, 2019, adjoin Kapa for the crooked auction or alms for auction or administration of balance to the accepted public.
Kapa was adorable the accessible to advance at atomic P10,000 in barter for a 30 percent account acknowledgment for life, after accepting to do annihilation added than advance and delay for the payout, based on the SEC’s investigation.
The SEC, through the Anti-Money Laundering Council, had acquired a benumb adjustment from the Court of Appeals on June 4, 2019, to bottle assets affiliated to Kapa.
Meanwhile, the SEC common its alarm on the accepted accessible to exercise added attention and discernment, acquainted that assertive supporters and promoters of Kapa peddled apocryphal advice about the group’s declared revival.
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