The Court of Appeals in Manila. | BG PHOTO: COURT OF APPEALS WEBSITE
The Court of Appeals has affirmed the validity of search warrants issued by a local court against Kapa Community Ministry International, a religious corporation linked to the so-called Ponzi-type investment scheme that allegedly duped several members and investors.
In a 14-page decision promulgated on March 27, the appellate court’s Thirteenth Division, sustained the orders of the Manila Regional Trial Court (RTC) in relation to the issuance of several search warrants against the Kapa and its officials, led by its founder, Pastor Joel Apolinario.
In upholding the Manila RTC orders, the CA dismissed the petition for certiorari filed by Kapa, questioning the validity of the Manila RTC orders. The court stressed that the Manila RTC did not commit grave abuse of discretion in the issuance of the subject search warrants.
In January 2020, the Department of Justice filed charges against Kapa, Apolinario and other officers in various courts after being tagged by the Securities and Exchange Commission (SEC) as a perpetrator of investment fraud.
Kapa has been accused of perpetrating a Ponzi scheme, an investment program that offers high returns and pays investors using the money contributed by other investors.
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.
Kapa was allegedly enticing the public to invest at least P10,000 in exchange for a 30-percent monthly return for life, without having to do anything other than invest and wait for the payout, based on the SEC’s investigation. INQ