DAVAO CITY , Philippines — A lawmaker has called on the National Bureau of Investigation (NBI) to step up efforts in dismantling the operations of KAPA Community Ministry International, Inc that is involved in what he termed as “large-scale investment fraud” in key cities in Mindanao, luring investors with a promise of bigger earnings.

“The NBI should immediately step up efforts to arrest and neutralize the operation of a group called KAPA Community Ministry International, Inc., which is involved in large-scale investment fraud similar to the notorious Aman Futures Group that victimized nearly 12,000 people and ran away with P12 Billion in cash,” Puwersa ng Bayaning Atleta (PBA) party-list Rep. Jericho Nograles said.

Nograles made the statement on Tuesday after his office has received complaints from soldiers, policemen, teachers and even some businessmen who have fallen victims to KAPA’s scam.

“This is another multi-billion investment scam with the breadth and scale of Aman Future’s operation. It’s just sad that many people still fall for this kind of scheme. In Davao City alone, I have already received hundreds of complaints from people who lost tens of thousands of their life savings because of KAPA. This must be stopped immediately,” Nograles said.

The Davao lawmaker lamented that despite a warning issued by the Securities and Exchange Commission (SEC), KAPA Community Ministry International, Inc is still aggressive in recruiting “would-be investors” in General Santos City, Davao City, Bislig and in most areas in Central and Southern Mindanao.

According to Nograles, SEC has issued an advisory October last year warning the public of KAPA’s illegal operation but no law enforcement operation was since conducted to stop it from victimizing more victims.

“Unlike Aman Futures that only offered high yielding interest income, KAPA also poses as a religious group with a huge number of followers to project stability and credibility,” Nograles said.

KAPA maintained that it is a “legitimate non-denominational ministry, a religious corporation organized under Philippine laws and registered with the Securities and Exchange Commission under Company Registration No. CN2017707724.”

KAPA is headed a certain Joel A. Apolinario who is also the founder of the group.

“KAPA’s scheme is to ask for ‘donations’ from its members and in return, they would get a monthly 30% interest earnings called ‘tokens’ and love gifts. It’s minimum donation is P5,000 per member to as much as P1 Million,” Nograles said.

“This ponzi scheme is very different. Instead of asking for investments, KAPA is asking for donation, which entitles members so-called monthly love gifts amounting to 30% in interest earnings. I think that they use this strategy to get around with our law on these types of investment fraud,” Nograles aded.(davaotoday.com)

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