MANILA, Philippines — Senator Sherwin Gatchalian described the investment scam allegedly perpetrated by Kapa Community Ministry International Inc. (Kapa) as a “toxic mix of misinformation and religion.”
Kapa, a Surigao del Sur-based religious corporation, was allegedly soliciting investments from the public by encouraging them to “donate” any amount in exchange for a 30 percent monthly return.
READ: Kapa is poor’s ticket to good life–members
Gatchalian said such an offer is “too good to be true” as no investment would offer such a high return.
“Sa mga ganitong offer, pag sinabi nilang (In offers like this, when they say) it’s too good to be true, it’s definitely not true,” Gatchalian told reporters in an interview at the Senate.
“So para sa akin this is a toxic mix of misinformation as well as religion,” he added. “Kung hahaluan mo ng religion, hahaluan mo ng pagsisinungaling, talagang yung mga tao ay maeengganyo maglagay ng pera doon (If you mix religion with lies, the people will be encouraged to place their money there),” he added.
He urged the public to be more vigilant against fraudsters and scammers as he called for an intensified information campaign against investment schemes.
President Rodrigo Duterte earlier ordered the shutdown of Kapa and other groups involved in investment scams.
READ: Duterte wants Kapa, other investment scams probed, shut down
Meanwhile, the Securities and Exchange Commission (SEC) earlier said it had secured more than P100 million worth of Kapa investments, following an asset freeze order issued by the Court of Appeals on June 4. (Editor: Eden Estopace)
READ: SEC secures P100M in Kapa assets