PNP-12 warns illegal investment operators anew

GENERAL SANTOS CITY -- The Police Regional Office (PRO) 12 (Soccsksargen) on Thursday warned various entities and individuals operating illegal investment schemes to stop their activities or face the "full force of the law".

The police issued the warning in the wake of the ongoing crackdown by the national government against various pyramiding or
Ponzi-like investment schemes that have been proliferating in some parts of the country.

Brig. Gen. Eliseo Tam Rasco, PRO-12 director, said these activities are considered "criminal acts" and that the police have been continuously monitoring the involved entities, groups, as well as individuals.

Rasco vowed that they are committed to use every tool at their disposal to find and stop "these illegal activities and bring its operators to justice."

"Cheating investors out of their earnings and savings is not a business plan. We have already filed numerous cases in court and we will not hesitate to invoke the full force of the law against you," he said in a statement.

Rasco said he convened on Tuesday the various PRO-12 units and local commanders to tackle the problem, following President Rodrigo R. Duterte’s verbal directive last week for law enforcement agencies to put a stop to the proliferating illegal investment schemes.

The President specifically cited the operations of the Kapa Community Ministry International, Inc., a registered religious group that has been soliciting investments in the form of donations at a monthly interest of 30 percent.

In its defense, Kapa argued it is operating as a religious organization that is no different from other sects that receive offerings from its members.

Agents of the National Bureau of Investigation (NBI) conducted a series of raids in the past several days against Kapa, targeting the house of its founder Pastor Joel Apolinario in Barangay City Heights here and offices in parts of the country.

The operations here, which were based on a search warrant issued by the Regional Trial Court Branch 20 in Manila, were backed by elements of the city police office.

Kapa legal counsels said the search warrants were deceptively obtained, alleging that the NBI failed to inform the Manila court about an existing injunction that prohibits the Security and Exchange Commission (SEC) from enforcing the closure order against the group.

Rasco said among the investment entities that were monitored in the region are the Rigen Marketing, Alamcco, Five Place Computer services, Manuficient Ministry, Magnificient, and Acts of Charity Consumer Group Trading.

He said the police have been ordered to check the legality of the companies in coordination with other concerned law enforcement agencies. (PNA)