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Citing security threat, Kapa execs skip DOJ preliminary probe

/ 07:38 PM July 15, 2019
Citing security threat, Kapa execs skip DOJ preliminary probe

Kapa founder Joel Apolinario, with his wife Reyna behind, speaks to the media during the rally Thursday, June 13, 2019, in General Santos City. (Photo by BONG S. SARMIENTO / Inquirer Mindanao)

MANILA, Philippines – Citing security threat, officials of Kapa Community Ministry International Inc. (Kapa) on Monday failed to attend preliminary investigation at the Department of Justice (DOJ) to answer the criminal complaint filed by the Securities and Exchange Commission (SEC).

According to Assistant State Prosecutor Gilmarie Fe Pacamara, Kapa founder and president Pastor Joel Apolinario, corporate secretary Reyna Apolinario and Rene Catubigan were represented by Atty. Mae Divinagracia.

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Other respondents to the complaint for violation of Republic Act 8799 or the Securities and Regulation Code are trustee Margie Danao and officers Marisol Diaz, Adelfa Fernandico, Moises Mopia and Catherine Evangelista.

Pacamara said the counsel for the respondents sought more time to submit their respective counter-affidavits.

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The respondents were charged last month with violation of Sections 8 and 28 of RA 8799.

Section 8 of the said law prohibits sale or distribution of securities without a registration statement duly filed and approved by the SEC while Section 28 prohibits any person from engaging in the business of buying or selling securities in the country as a broker or dealer, or act as a salesman, or an associated person of any broker or dealer unless registered with the SEC.

Likewise, the SEC said the respondents also violated Section 26 which specifically prohibits Ponzi scheme, an investment program that offers investors impossibly high returns while paying them the money contributed by other investors.

“We have to file or we have to request for an extension because we still have to thoroughly study the records considering that the documents that were furnished us are quite voluminous,” Divinagracia told reporters.

During preliminary investigation, Divinagracia told DOJ prosecutors that the respondents cannot travel because of security threat. She requested that the counter-affidavit be subscribed outside Metro Manila.

“We will be going to Surigao [because] there is a threat to their lives. They cannot travel in and out,” she said.

The DOJ prosecutors granted the request of the respondent and they have until July 29 to submit their response through counter-affidavit.

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The corporate regulator said they decided to file the charges after it discovered that Kapa had enticed its members to donate at least P10,000 in exchange for a 30 percent monthly “blessing” or “love gift” for life, without having to do anything other than invest and wait for the payout.”

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TAGS: DoJ, KaPa, Ponzi, SEC
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