Friday 20 September
CA orders asset freeze for KAPA, SEC readies criminal suit Jun 10, 2019 @ 19:24

CA freezes Kapa funds, SEC to file more charges vs Pastor Joel Apolinario, allies

 

The Securities and Exchange Commission (SEC) will file criminal charges against officials of Surigao del Sur-based religious corporation Kapa Ministry Community International for operating a fraudulent investment scheme.

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

SEC’s efforts in running after KAPA got a boost after the Court of Appeals issued a freeze order on several bank accounts and assets belonging to KAPA.

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

With the freeze order, KAPA and its authorized representatives can not make withdrawals or fund transfers.

Billions lost! More cops fall prey to investment scams Alamco, Kapa in Soccsksargen

Kapa has been permanently barred by the SEC to do business in the country after having duped about five million unsuspecting Filipinos.

Pacquiao’s hometown helpless in stopping Kapa investment scam after court sided with religious group

KAPA promised 30% monthly returns for a minimum investment of P10,000.

‘Di makuha sa warning: Davao police chief to charge cops investing in KAPA, other Ponzi schemes

SEC chairman Emil Aquino said KAPA had “no substantial assets” to sustain its operations.

Based on its 2017 financial statements, KAPA only had ₱465,000 worth of assets, not enough to cover the promised 30 percent payout to investors.

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