The National Bureau of Investigation (NBI) filed Monday before the Department of Justice (DoJ) criminal complaints against Kapa-Community Ministry International founder and president Joel Apolinario and 13 of its officials for allegedly engaging in an investment scam.
“It is respectfully recommended that the following KAPA Incorporators, Directors and/or Officers be filed criminal cases for 5 counts of violations of Sections 8 and 26 in relation to 73 of the Securities and Regulations Code (SRC), and 8 counts of Syndicated Estafa as defined and penalized in P.D. (Presidential Decree) 1689,” read the letter complaint signed by NBI Director Dante Gierran.
Aside from Apolinario, the other respondents named in the complaint-affidavit are Kapa corporate secretary Reyna Apolinario; treasurer Modie Dagala; directors Benigno Tipan Jr., Marnilyn Maturan, Riicky Taer, and Margie Danao; and incorporators Nonita Urbano, Junnie Apolinario, Nelio Nino, Maria Pella Sevilla, Jouelyn Del Castillo, Cristobal Barabad, and Joji Jusay.
“The modus/scheme of KAPA is basically solicitation of money/investment from the public in the guise of ‘donation’ with a promise of perpetual monthly interest equivalent to 30% return/interest in the guise of ‘blessings’,” Gierran explained in the complaint.
The NBI chief cited that, in the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC), Kapa is registered as an independent religious corporation “but does not authorize it to undertake business activities requiring a Secondary License from this Commission…”
“KAPA is an organization/corporation that sells and/or offers security/investment contracts to the general public without authority and license from the Securities and Exchange Commission,” Gierran said.
“KAPA made it appear that the collection from the public of investment money is an act of a religious donation and the grant of investment is a form of religious blessing,” he added.
Gierran pointed out that Kapa is “using religion to shield its organization from its unlawful solicitation of investments from the public through the employment of deceits, false pretenses and/or fraudulent acts.” (Jeffrey Damicog)
