Kapa leaders given more time to refute charges

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The Department of Justice gave more time to leaders of religious group Kapa Community Ministry tagged by the National Bureau of Investigation in an alleged large-scale investment fraud, to refute the charges lodged against them.

This was after none of the respondents managed to file their counter-affidavits during preliminary investigation which was held last Thursday.

The panel of prosecutors led by Assistant State Prosecutor Maria Lourdes Uy allowed the respondents specifically Kapa founder Joel Apolinario until September 3 to file their counter-affidavits.

Aside from Apolinario, the other respondents named in the complaint-affidavit were 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 NBI recommended to the Department of Justice that the respondents be charged in court 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.”

“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’,” the complaint read.

Also, Kapa executives have been accused by the Securities and Exchange Commission 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.

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.”

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