KAPA officials ordered arrested in Bislig City
THE REGIONAL Trial Court of Bislig City has ordered the arrest of Kapa-Community Ministry International’s (KAPA) founder, key officers and promoters for the investment fraud charges initiated by the Securities and Exchange Commission (SEC).
The Bislig City Regional Trial Court Branch 29 on February 11 issued Warrants of Arrest against KAPA Founder and President Joel A. Apolinario, Trustee Margie A. Danao and Corporate Secretary Reyna L. Apolinario, along with promoters Marisol S.
Diaz, Adelfa Fernandico, Moises Mopia and Reniones D. Catubigan.
The Warrants of Arrest were issued after prosecutors at the Department of Justice (DOJ) filed criminal charges against KAPA for violations of Republic Act No. 8799, or the Securities Regulation Code (SRC).
In separate Informations, the DOJ has accused KAPA of “willfully, unlaw
fully and criminally” engaging in the selling or offering for sale or distribution of securities in the Philippines without a registration statement duly filed with and approved by the SEC.
Accordingly, the DOJ charged KAPA, along with Mr. and Mrs. Apolinario and Danao, of violating Sections 8(8.1), 26.1 and 28 of the SRC. It also indicted Diaz, Fernandico, Mopia and 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. It filed similar Informations against Mopia and Fernandico with the Quezon City Regional Trial Court Branch 93.
The Quezon City Regional Trial Court earlier issued a Warrant of Arrest against Fernandico and Mopia on December 2, 2019.
The criminal proceedings stemmed from the complaint filed by the SEC on June 18, 2019 against KAPA for the unauthorized sale or offering for sale or distribution of securities to the general public.
In a resolution issued on September 25, 2019, the DOJ found probable cause to bring charges against KAPA, affirming the findings of the SEC.
The Commission found KAPA to have enticed the public to invest at least P10,000 in exchange for a 30% monthly return for life, without having to do anything other than invest and wait for the payout.