President Rodrigo Duterte asserted that Kapa-Community Ministry International, Inc. collection of alleged “donation” from its members promising a 30 percent profit is fraud and a clear syndicated estafa.
In anterview with Pastor Apollo Quiboloy, Duterte said that even Bangko Sentral ng Pilipinas (BSP) can not afford to give P30,000 earnings to P100,000 investment a month.
“When it is good to be true, it is fraud. Biro mo ‘yung 100,000 mo would earn 30,000 a month? Ni bangko na ‘yung Banko Sentral natin magbigay, tres lang porsyento. Ilan ang porsyento ngayon na? Annually ha,” Duterte said.
“Eh ito, kayong mga Pilipino, ilang beses ko na kayo sinasabihan? ‘Pag ang — what is being promised to you is something like heaven, walang tao dito, walang bangko, maski ‘yung Bank of America can afford to pay you 30,000 every month for your 100,000.”
Duterte then ordered National Bureau of Investigation (NBI) and PNP-CIDG to shut down the operations of Pastor Joel Apolinario’s group.
“Kinolekta lang rin nila ‘yan ‘yung pasok. Ang problema just like the legacy, anything, ‘pag at the end of the day, ‘yung walang makuha, you are in to syndicated estafa. That is why NBI, sirahan mo na mga ** — sirahan mo na sila at dalhin mo doon sa — upon my orders, upon my orders, otherwise, I said do notâ€¦” Duterte added.
Last March this year, Securities and Exchange Commission (SEC) made permanent its cease and desist order (CDO) against Kapa to stop soliciting investments without the proper license.