Business Headlines

Kapa pyramid scam to defy Duterte closure, arrest order: We have complete papers

Kapa pyramid scam to defy Duterte closure, arrest order: We have complete papers

Kapa-Community Ministry International Inc. founder and leader Pastor Joel Apolinario has ordered his members to “relax” and just continue with their business after President Rodrigo Duterte ordered the its closure and the arrest of its leaders.

Kapa-Community Ministry International Inc. founder and leader Pastor Joel Apolinario has ordered his members to “relax” and just continue with their business after President Rodrigo Duterte ordered the its closure and the arrest of its leaders.

Shut them down and jail them! Duterte says Kapa nothing but a pyramiding scam: Even Bank of America can’t give 30% per month!

In a video message uploaded on YouTube, Apolinario claimed that Duterte was not referring to Kapa in his interview with Pastor Apollo Quiboloy.

Duterte to revoke oppressive Manila Gas, Manila Water deals: I will not pay! Kalokohan ‘yan!

“Hindi po tayo un. ‘Yung ipina-stop niya ‘yung lang walang kaukulang papeles na biglang sumulpot na parang kabute, mga walang legalidad. Tayo ay legal po, may papers tayong ipakita,” said Apolinario in a YouTube video addressed to Kapa followers.

Nadulas? Duterte assures PH is safe to invest in: I’ve ‘killed’ some due to corruption

“Bilang member, maging matatag po tayo kasi legal at isa po tayong religous group,” he added.

Duterte assures Japanese investors: No delays in PH projects

Duterte had categorically called Kapa a “pyramid scam” – it promised members a 30 percent monthly return on “donations – and its leaders the “sons of Lucifer” for carrying out this crime of “syndicated estafa.” Duterte ordered the National Bureau of Investigation and Criminal Investigation and Detection Group to immedialy close it down and arrest the people behind it.

Dominguez hails 3-in-1 project process in PH before Japanese investors

Apolinario is adamant that Kapa was above board citing a public endorsement from Tagum Mayor Allan Rellon proof that it was the only one among 30-plus investment schemes in Mindanao that was operating legitimately.

Although the Securities and Exchange Commission revoked Kapa’s incorporation papers for its illegal solicitation of funds last February, Apolinario was able to get a cease and desists order against the SEC from Branch 35 of the General Santos City Regional Trial Courtonon April 10, or just six days after Apolinario filed his plea. Kapa has continued taking donations from members as it invoked the court ruling that SEC has no jurisdiction over financial transactions involving religious organizations.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.