Duterte closes Kapa for ‘estafa’; Next target is BOC’s ‘tara’atbp.

Published June 21, 2019, 12:05 AM

by Charissa Luci-Atienza & Bernie Cahiles-Magkilat

PUNCHLINE

By FRED M. LOBO

Fred M. Lobo
Fred M. Lobo

President  Duterte has ordered the closure of the Kapa Community Ministry for alleged involvement in large-scale estafa through a get-rich scheme.
“It’s a scam” and a non-bailable offense. Tigil na ang Kapa! the Punisher declared.
***
As a result, the Securities and Exchange Commission (SEC) has locked in more than R100 million worth of Kapa assets, including luxury cars and ahelicopter.
To protect investors and alleged KAPA victims, SEC said.
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Duterte warned the people, especially agrarian reform beneficiaries in General Santos City, against pawning their lands and investing their hard-earned money in the get-rich-quick scheme of the religious group.
Wrongly invest your money and get a “punch” from me, he warned.
***
The President said Kapa was engaged in a fraudulent pyramiding scheme that pays off old investors with money collected from new investors, offering a hefty monthly returns of 30 percent.
“It is too good to be true. Banks offer only three or four percent per annum. If they promise to return your investment or double your investment after one month, it’s a scam,” he said.
***
“Don’t enter that because that is fraud, they don’t have money. When the time comes that no one will invest in it anymore, the last persons who invested their money would be the victims,” the President said.
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Duterte warned Kapa founder Joel Apolinario against continuing Kapa operations.
He ordered the National Bureau of Investigation (NBI) and Philippine National Police (PNP) to arrest Apolinario.
***
After distributing land titles to some 13, 585 beneficiaries recently in Mindanao, Duterte said land reform beneficiaries should better safely “stick to their land and plant” crops.
“Di bale kamote lang at saging, basta safe at loving,” he joked with farmers.

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However, opposition Sen. Antonio Trillanes IV commented that members of the Kapa community can file an impeachment case against DU30 for infringing on their religious freedom, as “a member has the right to donate even all of his money in his church.”
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The Securities and Exchange Commission (SEC) said that based on a freeze order issued by the Court of Appeals and AMLAC, several cooperating banks have frozen more than R100 million in Kapa assets.
From cash, insurance policies, cryptocurrency holdings, nine luxury cars and sports utility vehicles, to a helicopter, Kapa has it.
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The SEC said Kapa was found to have recruited and encouraged members to “donate” at least R10,000 in exchange for a 30 percent monthly return on investment for life.
“Kapa amassed wealth through an investment scam, in the guise of religion, and at the expense of the investing public,” SEC Chairman Emilio B. Aquino said.
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“Kapa violated the law and must now face the consequences of its actions. Any and all persons behind and involved, in one way or another, in the investment scam, will be prosecuted and held criminally liable,” Aquino added.
The public should refrain from dealing with similar investment schemes.
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Meanwhile, reliable sources said that Bureau of Customs (BoC) personnel are next on the radar and chopping block of President Duterte for continued involvement in the “tara” scheme and other illegal money-making activities.
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BoC Commissioner Rey Leon Guerrero is reportedly ready to implement the transfer or movement of officers and employees after a group of brokers reported to Malacañang the continuation of the “tara” of R3,000 per container of general merchandise and R50,000–R100,000 per imported car, in exchange for the payment of “lower duties and taxes.”

 
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