NBI to file more cases against Kapa
Published Nov 11, 2019 03:11 pm
By Jeffrey Damicog
The National Bureau of Investigation (NBI) will file more criminal complaints against Kapa-Community Ministry over its alleged involvement in an investment scam.
National Bureau of Investigation (MANILA BULLETIN)
NBI spokesman Deputy Director Ferdinand Lavin on Monday revealed that the NBI regional offices “continue to receive complaints coming from the other members (of Kapa).”
“As we receive complaints and gather evidence, we will continue to file cases of violations of the Securities Regulation Code,” Lavin assured reporters.
Meanwhile, a Department of Justice (DOJ) panel of prosecutors is currently conducting a preliminary investigation on the complaint filed by the NBI against Kapa.
Three Kapa members already filed affidavits of desistance and withdrew as complainants in the complaint of the NBI.
“We also understand kung medyo napangakuan sila na ibabalik (we understand if they were promised that their money will be returned),” Lavin said.
“But rest assured na sana ay tuloy-tuloy itong imbestigasyon at sana ay magcooperate sila (hopefully the investigation will continue and this time they will cooperate),” he pointed out
“Naloko na sila (they have been duped) one time, they should not believe them anymore,” Lavin stressed.
In its complaint, the NBI accused Kapa of having committed five counts of violations of Sections 8 and 26 in relation to 73 of the Securities and Regulations Code (SRC), and eight counts of syndicated estafa as defined and penalized in Presidential Decree 1689.
Those who have been named as respondents in the complaint are Kapa founder and president Joel Apolinarion; his wife Reyna Apolinario who is Kapa’s corporate secretary; 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’,” read the complaint.
However, complaint pointed out the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC) showed that Kapa is a registered independent religious corporation but this registration “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,” the complaint stated.
“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,” it added.
The complaint accused Kapa of “using religion to shield its organization from its unlawful solicitation of investments from the public through the employment of deceit, false pretenses and/or fraudulent acts.”
“The foregoing allegations are even bolstered when the NBI Team, went to Kapa offices to investigate and conduct case build-up. They personally witnessed the investment scam/pyramiding scheme activities of Kapa particularly when they invested money to Kapa Offices as poseur investors,” it cited.
National Bureau of Investigation (MANILA BULLETIN)
NBI spokesman Deputy Director Ferdinand Lavin on Monday revealed that the NBI regional offices “continue to receive complaints coming from the other members (of Kapa).”
“As we receive complaints and gather evidence, we will continue to file cases of violations of the Securities Regulation Code,” Lavin assured reporters.
Meanwhile, a Department of Justice (DOJ) panel of prosecutors is currently conducting a preliminary investigation on the complaint filed by the NBI against Kapa.
Three Kapa members already filed affidavits of desistance and withdrew as complainants in the complaint of the NBI.
“We also understand kung medyo napangakuan sila na ibabalik (we understand if they were promised that their money will be returned),” Lavin said.
“But rest assured na sana ay tuloy-tuloy itong imbestigasyon at sana ay magcooperate sila (hopefully the investigation will continue and this time they will cooperate),” he pointed out
“Naloko na sila (they have been duped) one time, they should not believe them anymore,” Lavin stressed.
In its complaint, the NBI accused Kapa of having committed five counts of violations of Sections 8 and 26 in relation to 73 of the Securities and Regulations Code (SRC), and eight counts of syndicated estafa as defined and penalized in Presidential Decree 1689.
Those who have been named as respondents in the complaint are Kapa founder and president Joel Apolinarion; his wife Reyna Apolinario who is Kapa’s corporate secretary; 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’,” read the complaint.
However, complaint pointed out the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC) showed that Kapa is a registered independent religious corporation but this registration “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,” the complaint stated.
“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,” it added.
The complaint accused Kapa of “using religion to shield its organization from its unlawful solicitation of investments from the public through the employment of deceit, false pretenses and/or fraudulent acts.”
“The foregoing allegations are even bolstered when the NBI Team, went to Kapa offices to investigate and conduct case build-up. They personally witnessed the investment scam/pyramiding scheme activities of Kapa particularly when they invested money to Kapa Offices as poseur investors,” it cited.