MANILA, Philippines — Senator Sherwin Gatchalian wants a hold departure order issued against Kapa-Community Ministry International Inc. founder Joel Apolinario and his cohorts in the alleged investment scam operated by the group.
“While the DOJ has already issued an Immigration Lookout Bulletin Order against eight incorporators and eight officers of Kapa, a court-issued hold departure order is still a more powerful tool in barring Kapa officials from leaving the country with their multibillion-peso loot,” he said in a statement Wednesday.
READ: DOJ issues lookout order for Kapa, ALAMCCO execs
Gatchalian said many criminals dare to start investment scams since only a few were being punished under the Republic Act No. 8799 or the Securities Regulation Code.
He said that in the past, some big-time investment scammers have escaped to other countries before they can be held liable to criminal cases.
“We do not want more of our countrymen to be victimized by these scams; hence, the urgent need to fast track the filing of criminal charges against these big-time scammers,” said Gatchalian.
“We need to send a message that we mean business in prosecuting the masterminds of these nefarious schemes and giving justice to the victims,” he added.
The Securities and Exchange Commission filed on Tuesday complaints against Apolinario, Kapa’s trustee Margie Danao, and corporate secretary Reyna Apolinario, among others, for allegedly perpetrating an investment scam. (Editor: Eden Estopace)