SEC: KAPA officers, promoters face arrest


By James A. Loyola

The Securities and Exchange Commission (SEC) announced that officers and promoters of Kapa-Community Ministry International (KAPA) are in danger of being arrested with the filing of criminal charges against them.

In separate informations filed with the Bislig City Regional Trial Court Branch 29, the Department of Justice (DOJ) accused KAPA of “willfully, unlawfully and criminally” engaging in the selling or offering for sale or distribution of securities to the general public without a registration statement duly filed with and approved by the SEC.

Accordingly, the DOJ charged KAPA Founder and President Joel A. Apolinario, Trustee Margie A. Danao and Corporate Secretary Reyna L. Apolinario of violating Sections 8(8.1), 26.1 and 28 of Republic Act No. 8799, or the Securities Regulation Code (SRC).

The DOJ also indicted Marisol S. Diaz, Adelfa Fernandico, Moises Mopia and Reniones D. Catubigan for violation of Section 26.1 of the SRC for promoting the investment scam.

The DOJ further charged Diaz before the Rizal Regional Trial Court for violation of Section 28. It filed similar Informations against Mopia and Fernandico with the Quezon City Regional Trial Court Branch 93.

The concerned judges, upon finding of sufficient probable cause for the issuance of Warrants of Arrest, shall order the arrest of the indicted officers and promoters of KAPA, in accordance with the Revised Rules of Criminal Procedure.

So far, the SEC has verified that a Warrant of Arrest was issued by the Quezon City Regional Trial Court on December 2, 2019 against Fernandico.

The criminal proceedings stemmed from the complaint filed by the SEC on June 18, 2019 against KAPA for the unauthorized sale or offering for sale or distribution of securities to the general public.