Kapa-Community Ministry International (KAPA) founder Joel A. Apolinario and several other group officers have been ordered arrested in connection with the investment fraud charges filed against them by the Securities and Exchange Commission (SEC).
In an order, Bislig City regional trial court Branch 29 issued warrants of arrest against KAPA founder 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 were issued after the Department of Justice filed criminal charges against KAPA for violations of Republic Act No. 8799, or the Securities Regulation Code (SRC).
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 RTC 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.
SEC 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.
The SEC also found KAPA to have employed a Ponzi scheme, an investment program that offers impossibly high returns and pays investors using the money contributed by later investors.#