The DOJ investigating panel chaired by assistant state prosecutor Zenamar Machacon-Caparros granted the request of KAPA officials to submit their counter-affidavits at the next hearing on July 29.
Boy Santos/File
KAPA execs seek more time to answer raps
Edu Punay (The Philippine Star) - July 16, 2019 - 12:00am

MANILA, Philippines — The Department of Justice (DOJ) has given officials of Kapa Community Ministry International Inc., who are tagged in an investment scam, more time to answer the criminal charges filed against them by the Securities and Exchange Commission (SEC).

The DOJ investigating panel chaired by assistant state prosecutor Zenamar Machacon-Caparros granted the request of KAPA officials to submit their counter-affidavits at the next hearing on July 29.

It was also agreed that the KAPA executives would subscribe to their answers before the office of the provincial prosecutor in Sarangani for security reasons. 

KAPA founder and president Joel Apolinario, trustee Margie Danao, corporate secretary Reyna Apolinario and officers Marisol Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista and Rene Catubigan failed to attend the initial hearing on July 5.

In a complaint filed on June 18, the SEC said the respondents perpetrated an investment scam by violating Sections 8 and 28 of the Securities Regulation Code (SRC).

Section 8 prohibits sale or distribution of securities without a registration statement approved by the SEC. Section 28 prohibits any person from engaging in the business of buying or selling securities as a broker or dealer or act as a salesman or associated person of any broker unless registered with the SEC.

The SEC said its initial investigation also showed the KAPA officials violated Section 26 of the law that prohibits Ponzi scheme by offering “impossibly high returns” and pays investors using the money contributed by other investors.

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

The National Bureau of Investigation had earlier filed syndicated estafa, a non-bailable offense aside from violation of the SRC against KAPA officials.

DEPARTMENT OF JUSTICE KAPA COMMUNITY MINISTRY INTERNATIONAL INC. PONZI SCHEME
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