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Año to mayors: Cancel Kapa’s business permits

/ 05:03 AM June 18, 2019

MANILA, Philippines — Interior Secretary Eduardo Año on Monday ordered all city and town mayors to cancel business permits issued to Kapa Community Ministry International Inc. to prevent the organization from “duping” the public.

In a statement, Año cited President Rodrigo Duterte’s order to shut down Kapa for its “apparently fraudulent investment scheme.”

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“There have been many who have been duped and many others who will be duped [by] this investment scam if the mayors do not take action. Make sure that Kapa’s operation does not continue,” Año said.

The Securities and Exchange Commission last week revoked Kapa’s certificate of registration.

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The Court of Appeals also ordered some P100 million of the group’s assets frozen.

Kapa was accused of encouraging members to invest at least P5,000 in the organization in exchange for a 30-percent monthly return.

Endorsement, not funds

Meanwhile, Senator-elect Ronald “Bato” dela Rosa on Monday admitted he received an endorsement, but not funds, from Kapa during his campaign for May’s midterm elections.

“They were able to help me in the sense that Pastor Joel Apolinario campaigned for me. But to say that I received funds is far from the truth,” said Dela Rosa, who was in Magsaysay, Davao del Sur, as guest speaker in the town’s 52nd founding anniversary.

He advised Apolinario to refund the money invested in Kapa by its members.

Danny Mangahas, Kapa’s spokesperson, last week said three senatorial candidates—Dela Rosa, Christopher “Bong” Go and Imee Marcos—were endorsed by Apolinario. —Reports from Jeannette I. Andrade and Orlando B. Dinoy

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TAGS: Bato dela Rosa, Eduardo Año, investment scam, Joel Apolinario, KaPa, Ponzi scheme, Ronald dela Rosa
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