KAPA continues despite SEC order, now in Zamboanga Sibugay – MINDANAO SUN

KAPA continues despite SEC order, now in Zamboanga Sibugay

IPIL, Philippines – The Securities and Exchange Commission (SEC) has made its cease and desist order (CDO) permanent and revoked the registration as a religious organization of Kapa-Community Ministry International Inc., but its operation continues. It has even expanded its membership in Zamboanga Sibugay.

An internet shop owner, whose name is kept confidential, is one of the members of Kapa in the municipality.

She said, in mixed English and dialect, the organization is “a big help for her and her family especially now that business is very slow.”

She showed to Mindanao Sun her recent payout in the amount of P58,950 through BDO.

“Kani sir grasya na jud na (This is already a blessing),” she said.

Her uncle, formerly worked as a seaman, in General Santos City had invested P1,000,000 in Kapa, earning for him P300,000 per month.

“Right now, my uncle stops his work as a seafarer,” she shared.

She is one of the growing number of residents of the town who took the risk by “donating” to copy with a promise of 30 percent interest per month. And their number is growing each day.

Another reported person who invites residents in the locality is a pastor of a Pentecostal church in the municipality. Mindanao Sun withheld the name of the pastor pending verification.

Last February, the SEC ordered KAPA to stop soliciting investments because it has no authority to offer and sell securities.

In a resolution dated March 14, the SEC had “declared permanent an order barring Kapa-Community Ministry International, Inc. (KAPA) from soliciting investments from the public without the necessary license.”

Kapa, according to SEC, was registered as a religious organization. The investments it received from its members, which the organization called as donations, was a “serious misrepresentation” on what it was allowed to do.

A video posted on You Tube, however, showed a woman from Kapa Quezon City branch showed to the members a paper she claimed a “writ of preliminary injunction.”

The court, she said, had ordered that SEC cannot interfere or stop Kapa activities.

As Kapa is fending off the controversy, its founder, Pastor Joel Apolinario called on its member to refrain from investing in other organizations he described as scammers.

In a video posted on YouTube on May 23, 2019, Apolinario said: “I was able to sustain millions of my members every day because of our business. Now, you will just invest that hard-earned money on some sort of scam financial company? I hope you will help me as I was able to help you.”

The Kapa founder did not name names. But the SEC had identified these firms: MGA Business Enterprises, Coophub Multimedia Services, Jogle Innovative Marketing, Global Dream Zion, Grappler, Sherpan, BCT Marketing/BCT Motorcycle and Car Trading, RTM/RTM Pharmacy and General Merchandise, Diamond Marketing, Fusion Marketing, FMarket, Cirfund, Vibearn, Onepro, BCC/BCC Cosmetics Trading, Unlishop Compensation Plan Marketing, VUCC, Bitrain, Tcoin, Crowd Royals, ADA Farm Agri Venture and Nermie Marketing/Nermie Health and Beauty Products Trading.

These firms, including Kapa, allegedly offer 10 to 400 percent return of investments, which the SEC described as “too good to be true.”

As far as the internet shop owner is concerned, however, the promise of 30 percent interest of Kapa is true.

KAPA is the shorthand for Kabus Padatoon (Enrich the Poor). It was founded by Apolinario in Bislig, Surigao del Sur. Its membership has grown to more than a million all over the country. (Antonio M. Manaytay/ Mindanao Sun)

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