Kapa execs seek dismissal of SEC complaint

Kapa execs seek dismissal of SEC complaint

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The Department of Justice on Monday started the preliminary investigation into the charges filed by the Securities and Exchange Commission against officers of Kapa Community Ministry International, Inc., who were implicated in an alleged large-scale investment scam.

DOJ panel formed to probe syndicated estafa raps vs Kapa execs

Represented by their counsels, four of the respondents led by Kapa founder Joel Apolinario sought the dismissal of the cases for lack of evidence, or suspension of the proceeding, at the very least, because of a pending motion before a court in General Santos City.

Kapa execs ask more time to refute charges

The motion before the General Santos City regional trial court questioned the legality of SEC’s cease and desist order against Kapa’s operation.

More charges filed vs Kapa execs

Apart from Apolinario, respondents Reyna Apolinario, Rene Catubigan, and Catherine Evangelista also filed their counter-affidavits.

DOJ warns Kapa execs to attend next hearing

Kapa executives have been accused of violating Section 26 of Securities Regulation Code prohibiting the so-called Ponzi scheme, an investment program that offers high returns and pays investors using the money contributed by other investors.

Kapa execs in alleged investment scam snub DOJ hearing

According to SEC, the respondents enticed the public to donate at least P10,000 in exchange for a 30 percent monthly “blessing” or “love gift”.

The commission added Kapa “amassed wealth through an investment scam in the guise of religion and at the expense of the investing public.”

Also, the NBI filed a separate case for syndicated estafa against Kapa officers investigators managed to secure affidavits from three Kapa investors who claimed that they were allegedly hoodwinked by the respondents to invest money.

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