SEC: Dismissal of charges versus KAPA is fake news

The Securities and Exchange Commission (SEC) is warning the public against fake news about the supposed dismissal of fraud charges against Kapa-Community Ministry International (KAPA).

In an advisory, the Commission set the record straight: The criminal cases filed against KAPA for violations of Republic Act No. 8799, or The Securities Regulation Code, remain pending in various courts.

The SEC underscored that KAPA Founder and President Joel A. Apolinario, along with the group’s other officers, only managed to secure conditional and temporary liberty after posting bail.

To recall, prosecutors at the Department of Justice (DOJ) charged Apolinario, together with KAPA Trustee Margie A. Danao and Corporate

Secretary Reyna L. Apolinario, before the Bislig City Regional Trial Court Branch 29 with violating Sections 8(8.1), 26.1 and 28 of the SRC.

The DOJ also indicted Marisol S. Diaz, Adelfa Fernandico, Moises Mopia and Reniones D. Catubigan for violation of Section 26.1 of the SRC for promoting the investment scam.

The DOJ further charged Diaz before the Antipolo Regional Trial Court for violation of Section 28 of the SRC. It filed similar Informations against Mopia and Fernandico with the Quezon City Regional Trial Court Branch 93.

On February 19 and 27, the Apolinarios and Catubigan respectively surrendered and posted bail for their temporary liberty while facing the investment fraud charges filed by the DOJ.