Church group keeps faith in Securities and Exchange Commission process

November 14, 2018

A Mindanao church group recently expressed its confidence that the Securities and Exchange Commission (SEC) will “appreciate the truth” and resolve the issues facing the group “with fairness and impartiality”.

The Sarangani-based KAPA Community Ministry International (KCMI) issued the statement following its petition to the SEC to remove an advisory issued by the regulatory body.

KAPA Founder Joel Apolinario said the church group has conveyed to the SEC “the necessary facts to prove that allegations against the KCMI are false and have been motivated by ill will on the part of its accusers”.

“We are saddened by the move on the part of our detractors to use a respected institution like the SEC in their bid to damage our Christian community life and evangelistic mission,” Apolinario said.

The KAPA founder said the church group has already explained to the SEC that the allegations that it has been soliciting investments with promises of high yield from the public “are misleading and have no basis in fact”.

“We clarified before the SEC that our church does not solicit money with a promise of a return nor do we entice the public to invest in our organization,” Apolinario said.

“We explained to the SEC that there is no such thing as investments to KAPA but we cannot prevent our members and supporters who voluntarily donate to the church,” he pointed out. “These donations are used by the church to support our charitable projects and to assist needy members, like what the other religious organizations do,” he added.

Pastor Joel, as he is fondly called, said the SEC has also been informed that “there are certain persons determined to prevent the KAPA from fulfilling its religious mission and calling”.

“The SEC is aware that certain individuals have been caught in the act and have already been charged with extortion following attempts to blackmail the head of our Christian community,” he said.

“We have also informed the SEC that our church has been the object of pressure from certain political personalities who appear to be concerned about the influence of our congregation,” he added.

Apolinario said KAPA is confident that the SEC “will not allow itself to be a tool of those who oppose our mission”.

“We believe in the fairness of the SEC’s regulatory processes and have informed the commission that we will extend our full cooperation to help it arrive at the truth,” he said.