Assistant State Prosecutor Maria Lourdes Uy (right). (PNA photo by Benjamin Pulta
MANILA -- Prosecutors on Wednesday gave Kapa-Community Ministry founder and president Joel Apolinario and his co-respondents more time to give their side to the complaint filed against them by the National Bureau of Investigation (NBI), accusing the group of being an elaborate investment scam.
“They were given until October 7 to file their counter-affidavits,” said Assistant State Prosecutor Maria Lourdes Uy, who chairs the prosecution panel handling the case, said.
She required respondents to swear to the authenticity of their counter-affidavits before filing the same to the DOJ. Once filed, Uy said the case could be submitted for resolution on October 7.
The NBI said Kapa has committed multiple counts of violations of Sections 8 and 26 in relation to 73 of the Securities and Regulations Code (SRC), and eight counts of syndicated estafa as defined and penalized in Presidential Decree 1689.
Named respondents in the complaint are Kapa founder and president Joel Apolinario; his wife and Kapa corporate secretary Reyna Apolinario; treasurer Modie Dagala; directors Benigno Tipan Jr., Marnilyn Maturan, Ricky Taer, and Margie Danao; and incorporators Nonita Urbano, Junnie Apolinario, Nelio Nino, Maria Pella Sevilla, Jouelyn Del Castillo, Cristobal Barabad, and Joji Jusay.
“The modus/scheme of KAPA is basically solicitation of money/investment from the public in the guise of ‘donation’ with a promise of perpetual monthly interest equivalent to 30 percent return/interest in the guise of ‘blessings’,” read the complaint.
However, the complaint pointed out the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC) showed that Kapa is a registered independent religious corporation “but (registration) does not authorize it to undertake business activities requiring a Secondary License from this Commission…”
KAPA sells and/or offers security/investment contracts to the general public without authority and license from the Securities and Exchange Commission.
The firm made it appear that the collection from the public of investment money is an act of religious donation and the grant of return is a form of religious blessing. (PNA)
