More charges filed vs Kapa execs

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More charges have been filed against the officers of controversial religious group Kapa Community Ministry International, Inc., which the Securities and Exchange Commission tagged in an alleged large-scale investment scam.

DOJ warns Kapa execs to attend next hearing

In a complaint, the NBI along with three Kapa investors sued founder Joel Apolinario and several others, namely: Nonita Urbano, Junnie Apolinario, Nelia Niño, Maria Pella Sevilla, Jouelyn Del Castillo, Cristobal Barabad, Joji Jusay, Reyna Apolinario, Modie Dagala, Benigno Tipan, Jr., Marnilyn Maturan, Ricky Taer, Margie Danao, and another unidentified individual.

They were charged with eight counts of syndicated estafa, a non-bailable offense, on top of the five counts of violation of the Securities Regulation Code (SRC) from the previous complaint.

According to the NBI, the new respondents were officers and employees in Kapa’s offices in Sarangani province, Quezon City, and Taytay, Rizal.

Kapa execs in alleged investment scam snub DOJ hearing

The charges for the second complaint came to fore after the NBI managed to secure affidavits from three Kapa investors who claimed that they were allegedly hoodwinked by the respondents to invest money.

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.

DOJ to start probe vs Kapa execs

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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