KORONADAL CITY – Police Colonel Joel Limson, chief of South Cotabato Police Provincial Office, warned against investors of Kabus Padatoon (Enrich the Poor) to recover their invested money.
The official made the comment after the deputization of Securities and Exchange Commission (SEC) to the Philippine National Police (PNP), National Bureau of Investigation (NBI) and other law enforcement agencies in implementing the cease and desist order against KAPA.
According to Col. Limson, as a law enforcement officer, it is the responsibility of PNP to close the aforementioned investment scam based on the order of one of the most powerful agencies of government that oversees the welfare of the investors.
The official added that they can conduct operations at anytime to implement the cease and desist order against KAPA investment scam.
“In a resolution dated March 14, the Commission En Banc made its cease and desist order (CDO) against KAPA permanent after the latter failed to file a motion to lift the order within the prescribed period,” SEC Commission En Banc said in its statement. “Since it did not file any motion for the lifting of the CDO within five days from 21 February 2019, the CDO dated February 14 is hereby made permanent pursuant to Section 4-3 (c), Rule IV, Part II of the 2016 SEC Rules of Procedure.”