GENERAL SANTOS CITY – Ni-revoke ng Securities and Exchange Commission (SEC) ang registration ng Kapa-Community Ministry International, Inc. (KAPA) dahil sa hindi nito pagtupad sa mga alituntunin ng komisyon.

Maaalala na naging kontrobersiyal ang KAPA ng founder na si Joel Apolinario dahil sa 30% na interes kada buwan sa mga donasyon mula sa kanilang miyembro.

Ang SEC ay dalawang beses nang naglabas ng advisory laban sa naturang investment scam.

Noong February 14, 2019, naglabas ng cease and desist order ang SEC laban sa KAPA at ginawang permanente ito noong Marso 14, 2019 matapos bigong makapaghain ang kampo ni Joel Apolinario ng mosyon para ipatigil ang naturang utos.

Sa kabila nito, nalaman na hanggang ngayon ay hindi sinunod ng KAPA ang ‘permanent CDO’ at patuloy pa rin ito sa kanilang operasyon.

Sa isang desisyon na may petsang Abril 3, 2019 pinaboran ng Commission En Banc ang petisyon ng SEC Enforcement and Investor Protection Department upang bawiin ang certificate of incorporation ng KAPA.

Under Section 6(i)(2) of Presidential Decree No. 902-A, or SEC Reorganization Act, the Commission can revoke the certificate of incorporation on the ground of “serious misrepresentation as to what the corporation can do or is doing to the great prejudice of or damage to the general public.”

“Kapa in dealing with the public is using its registration with the Commission as a religious corporation as a backdrop to solicit investments from the public knowing that it does not have the requisite registration. Such act is indicative of Kapa’s intent to deceive the public on what it can do or is doing to the damage and prejudice of the investing public.”

In its certificate of incorporation, KAPA is explicitly prohibited from undertaking business activities requiring a secondary license such as acting as broker or dealer in securities, investment house and close-end or open-end investment company.

Despite its lack of authority to offer and sell securities, KAPA recruited and encouraged members to “donate” any amount in exchange for a 30% monthly return for life, without having to do anything other than invest and wait for the payout.

The Commission En Banc ruled that such scheme constituted the sale and offer of securities, in the form of investment contracts, and required a secondary license from the SEC.

Muli inulit ng SEC ang babala nito para sa publiko na maging maingat laban sa KAPA at hinikayat na magsumbong sa kanilang opisina o extension offices kung patuloy pa rin ang operasyon ng KAPA.

Ang mga nag-invest ng pera o nahikayat na sumali sa KAPA ay maaari ring dumulog sa SEC-Davao City Extension Office sa SDC Building, Purok 13, Maa Road, Maa, Davao City.

Maaaring tumawag sa (082) 298-2170 at (082) 298-1893 o magpadala ng inyong reklamo sa kjpestares@sec.gov.ph.

Sa Cagayan de Oro City, maaaring bumisita sa komisyon sa SEC Building, corner 14th and Tomasco Del Lara Street o tumawag sa (088) 857-4325 at (088) 857-7225 o magpadala ng email sa rvegypto@sec.gov.ph.