By Jeffrey Damicog
The Department of Justice (DOJ) is set to wrap up on Friday, November 22, its preliminary investigation on the complaint against Kapa-Community Ministry for allegedly engaging in an investment scam.
(Juan Carlo de Vela / MANILA BULLETIN FILE PHOTO)
Assistant State Prosecutor Maria Lourdes Uy, who is conducting the preliminary investigation of the complaint, said the parties in the case have been ordered to file their respective memoranda on Friday.
Once the parties have submitted their respective memoranda, Uy said she will declare the case submitted for resolution,” said the prosecutor.
The complaint, which was filed by the National Bureau of Investigation (NBI) last July 7, accused 14 respondents of having committed five 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.
The NBI named as respondents in the complaint Kapa founder and president Joel Apolinario; his wife Reyna who is Kapa’s corporate secretary; 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.
In its complaint, the NBI pointed out the Certificate of Incorporation issued by the Securities and Exchange Commission (SEC) showed that Kapa is registered as an independent religious corporation “but does not authorize it to undertake business activities requiring a secondary license from this Commission…”
“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% return/interest in the guise of ‘blessings’,” read the complaint.
Other than this case, another DOJ panel of prosecutors issued a resolution dated September 25 which approved the filing of charges against the Apolinarios and five others based on the complaint filed by the SEC which accused them of violating the SRC.
The NBI has assured that it will file more cases against Kapa after its members sought the Bureau in the filing of complaints against the religious group.
“As we continue to receive complaints, continue to gather evidence, we will continue to file violations of the Securities Regulation Code,” NBI spokesman Deputy Director Ferdinand Lavin said.